Gov't Pledges to Cap Prices of Goods after Salary Index Raise | Lao Tribune

Gov’t Pledges to Cap Prices of Goods after Salary Index Raise

The government has pledged to put measures in place to prevent the unreasonable raise in living costs once the salary index value is adjusted upward to 500 kip per index.

Addressing the 2nd Ordinary Session of the National Assembly last Thursday, Deputy Prime Minister and Minister of Finance Somdy Douangdy said that following the upward adjustment of the salaries of government officials and civil servants to 500 kip per index, the Ministry of Finance intends to work with relevant sectors, especially the Ministry of Industry and Commerce, among others to collectively find solutions to control prices at markets to avoid unreasonable rises in the prices of goods and services.

The raise in value of the salary index by 500 kip per index for government officials and civil servants means that each official and civil servant will have their monthly salary raised by roughly 100 thousand kip.

“Regarding this issue, it is necessary not only to have price control measures for goods put in place, but also to communicate with the public and sellers the factors affecting the prices of goods, and especially costs. However, it is necessary to have strict and firm measures in place against those unreasonably raising the prices of goods,” said Mr Somdy.

Source: Lao News Agency