Prime Minister Pham Minh Chinh has emphasized a categorical requirement to prevent fuel shortages under any circumstances, asserting that while prices should follow market trends, the State will regulate and implement price stabilization measures in a flexible, appropriate, and effective manner, according to the Government News.

This approach aims to ensure a harmony of interests between the State, the public, and businesses, while strictly prohibiting hoarding, price gouging, and the exploitation of policies for illicit gains or market disruption.

Speaking at the conclusion of the Government Standing Committee meeting on March 16, PM Chinh directed ministries and relevant agencies, including the Ministry of Public Security, to launch inspections and strictly handle any violations.

He further requested a comprehensive review to reduce taxes, fees, and charges related to petroleum products to support businesses and citizens in the current context, with a submission deadline of March 20.

In the event of a prolonged conflict in the Middle East, the Prime Minister noted that the Government would consider reporting to competent authorities for the allocation of the State budget to support fuel price stabilization.

He stressed that the core pillars of policy-making must be the protection of production, business activities, and the livelihoods of the people to ensure stability and minimize negative impacts from global volatility.

To ensure effective implementation, the Government leader demanded clear accountability and close coordination between all involved ministries and sectors. He urged Government members to quickly provide feedback on the draft resolution amending Resolution 36 regarding fuel management to facilitate its early issuance.

Furthermore, Deputy Prime Minister Ho Duc Phoc was assigned to directly oversee policies on taxes and fees, while Deputy Prime Minister Bui Thanh Son will direct market stabilization efforts and matters under the jurisdiction of the Ministry of Industry and Trade.