Vietnam will closely monitor electricity, coal and petroleum

Vietnam’s Finance Minister Vuong Dinh Hue presented the country’s financial-banking tasks for 2012 and said that the government will closely monitor sensitive commodities like electricity, coal and petroleum. Price of electricity will be raised to a reasonable level in 2012, as a means to keep inflation below 10%, the minister said. The minister also explained that prices of electricity, coal, fuel products and public services, which are all heavily subsidized by the government, will be reviewed not later than 2013. He emphasized that subsidies will be lifted at the proper time. (December 27, 2011)