Strengthen inspection and examination in law compliance on prices

In 2021, the state management of price appraisal continued to be strengthened in all aspects. Source: Internet

According to the Price Management Department, under the Ministry of Finance, in 2021, the inspection of legal compliance on prices has been incorporated into activities to grasp the policies and problems in implementing the price structure. At the same time, it has been corrected and violations promptly handled, contributing to effective price management and administration.

However, due to the Covid-19 pandemic, following the direction of the Ministry on inspection work, up to now, the Price Management Department has inspected 62 units, accounting for 41.6% of approved enterprises for review in 2021

Through inspection, it was found that businesses and units have basically fulfilled and strictly complied with regulations on prices, including price declaration and price listing; units have provided goods and services at the declared rate and specified in policies on trade discount, goods discount and payment discount.

However, there were still some shortcomings during the implementation process such as declaring and listing insufficient products and services; the number of price declarations does not correspond to the number of adjustments; some units have not included the price content of discount or promotion programs for customers in the price declaration form.

The inspection teams have guided and handled administrative violations in the field of price appraisal of a number of units. On that basis, the units which were inspected have learned from experience and taken immediate corrective measures to comply with current legal provisions.

Along with that, in 2021, the state management of price appraisal continued to be strengthened in all aspects, such as regularly monitoring and inspecting the observance and compliance with the provisions of the law on prices of enterprises and appraisers; and continuing to strengthen international cooperation activities in the field of price appraisal.

The Price Management Department has actively performed state management tasks in the field of price appraisal, such as granting and re-granting certificates of eligibility for businesses in price appraisal services; updating information of enterprises and appraisers that are qualified to practice, promptly notify to ensure stable operation of businesses as well as the price appraisal market.

As of November 29, 2021, a certificate of eligibility for operating business in price appraisal services has been granted to 18 enterprises, and certificates re-issued for 78 enterprises. In addition, as of December 2021, six enterprises have been suspended and 12 certificates have been revoked.

Regarding the management of dossiers and lists of price appraisal enterprises and price appraisers in the country, by the end of November 29, 2021, the Price Management Department issued 33 notices on the list of enterprises, branches of price appraisal companies granted certificates for the first time and re-issued certificates and a list of price appraisers eligible to practice asset valuation in 2021 at valuation enterprises that have been granted certificates of eligibility to operate price appraisal services.

According to the leader of the Price Management Department, entering 2022, the Price Management Department will strengthen the inspection of legal compliance on prices and price appraisal.

At the same time, strictly controlling price-forming factors for price-stabilizing commodities; goods and services priced by the State, goods and services procured from the state budget; national reserves; goods, public services, public non-business services, declared price items. In particular, the Department will strictly handle violations in accordance with the law and publicly announce violations via mass media.