HN advances VND 500 bil. on price stabilization
02/06/2010
Illustration photo
Enterprises in Hà Nội will be given interest-free advances to reserving nine categories of primary goods of which the prices need to be stabilized for ten months.
In return, they will have to offer 10%-lower prices in case of price escalation and make proper price adjustments to cope with market fluctuations.
The nine essential goods are rice, poultry, beef, eggs, processed food, frozen seafood, cooking oil, sugar and vegetables.
The price-subsidized reserve of goods is expected to cover 15% of the total consumption of the capital city.
It is reported that this is the second time the local authorities made such a decision. On the threshold of this Lunar New Year Festival, Hà Nội funded VND 250 billion in interest-free loans for its traders in an attempt to stabilize prices of essential goods.
Nine essential goods for price stabilization in Hà Nội
(Offered by the Hà Nội Trade Corporation (Hapro) for reference)
No. | Goods | Unit | Quantity | Money |
1 | Rice | Ton | 6,400 | 76,800 |
2 | Beef | Ton | 1,520 | 89,680 |
3 | Poultry | Ton | 560 | 28,560 |
4 | Eggs | 1,000 eggs | 12,000 | 24,000 |
5 | Processed food | Ton | 1,280 | 61,440 |
6 | Frozen seafood | Ton | 800 | 41,600 |
7 | Cooking oil | 1,000 liters | 240 | 7,440 |
8 | Sugar | Ton | 240 | 4,080 |
9 | Vegetable | Ton | 4,000 | 68,000 |
Total | 401,600 | 401,600 |
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