Adequate manufacturing from regions and states will help stabilize the commodity prices: Senior General

PRODUCERS need to arrange appropriate prices of goods for the consumer people, said Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing at the meeting on increased manufacturing of basic foodstuffs at the SAC Chairman Office in Nay Pyi Taw yesterday afternoon.

In his address, the Senior General said it is assumed that monetary manipulation and attempts of seeking political gain of unscrupulous persons affect higher prices of goods than the appropriate prices.

The Senior General highlighted that although there are many ways and means for reducing the production cost, these cannot be implemented cent per cent. Higher transport charges, high prices of fuel and difficulties in transportation based on security measures trigger higher prices of commodities. The transport charge for goods by car is still higher. Rail transportation can reduce transport costs. As such, authorities of regions and states have to emphasize public transport measures.

All regions and states have to effectively spend capital from the State economic promotion fund on operating agriculture and livestock farming tasks so as to contribute to the food supply of relevant regions. Regions and states need to produce a sufficient volume of food supplies to prioritize the balance of supply and demand.

The Senior General stressed the need to efficiently utilize the land plots for agriculture and livestock farming tasks in regions and states. Only when they operate systematic agriculture and livestock farms will the volume of products increase.

The Senior General underscored that it is necessary to consider a reform process for the retail trading of commodities. In a bid to reduce commodity prices, the production volume must be raised for setting appropriate prices of goods in the country.

Deputy Minister for Commerce U Nyunt Aung reported on plans to ensure correct commodity prices and flow of commodities. The Chairman of Nay Pyi Taw Council, region and state chief ministers presented clarifications on arrangements for region-wise food sufficiency, production, and efforts to increase the production of agriculture and livestock farming products through the State economic promotion fund.

Council members, Union ministers, senior military officers and deputy ministers reported on the transport of goods by train, ship and plane, taking severe action against greedy businesspersons who raise prices of goods due to their selfishness, operation of military-owned agricultural and livestock farms of regiments and units to sell products to families of the Tatmadaw and locals at reduced prices, and efforts of MSMEs to develop commodity production so as to meet the local demand.

With regard to the reports, the Senior General said that it is necessary to use rail transport and waterway transport for unimportant goods. Aviation service should be used in the transport of commodities. It is necessary to control brokerages in regions and states. If all the feedstuffs can be produced at home, such an act will reduce the high prices of meat, fish and eggs to some extent.

Food sufficiency is of importance for the Union. Hence, not only paddy but other crops must be cultivated to have a larger per-acre yield. If manufacturing measures are taken through the combined cooperative system, success will be achieved.

In his concluding remarks, the Senior General said that all regions and states have to carry out development tasks. To do so, they have to manage manufacturing to earn income. Products must be high quality not only for the domestic market but for foreign ones.

Manufacturing must be controllable for commodity prices. Manufacturing can contribute to the smooth circulation of currency and the development of the regional economy and the State economy.

Taking lessons from weaknesses in the past, it is necessary to strive for the improvement of the State economy in a correct way. Adequate manufacturing from regions and states will help stabilize commodity prices. Producers need to arrange appropriate prices of goods for the consumer people. Although prices of inputs such as fuel and fertilizers decline more than the previous year, prices of commodities are still higher.

The Senior General underlined that the manufacturing of goods must be raised for ensuring a strong currency value in Myanmar and a lower inflation rate. Primarily, it is necessary to control existing commodity prices based on increased production.

MNA/TTA