Gov't to Freeze Public Utility Prices in 1st Half

Write : 2011-01-07 16:48:53 Update : 2011-01-08 11:24:54

Gov't to Freeze Public Utility Prices in 1st Half

The government has announced plans to freeze public utility prices and to release state reserves of farm products into the market to stabilize prices for low-income households.

Seven ministries on Friday reported the plans during consultations with the ruling Grand National Party.

During the meetings, the Finance Ministry presented a plan to freeze public utility prices in the first half and to offset losses through cost reductions.

The Ministry of Public Administration and Security said it plans to enhance administrative and financial support to curb hikes in provincial public utility charges, while the Ministry of Land, Transport and Maritime Affairs plans to expand its supply of affordable housing to curb recent increases in deposit-based rent.

The Agriculture Ministry will expand the supply of food reserves to curb inflation of food products, and the Education Ministry plans to curb tuition increases.

The Ministry of Knowledge Economy, meanwhile, presented a plan to curb a rise in oil prices.

The government will announce a comprehensive set of price stabilization measures next Thursday.

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