The nine companies that participated in a price-stabilisation programme launched by the city for Tet (Lunar New Year) have fulfilled their commitment to ensure sufficient supply of goods and keep their prices at least 10% below the prevailing market rates.

HCM City People’s Committee deputy chairwoman Nguyen Thi Hong said on Thursday that the companies’ careful preparation of goods and strict monitoring by the team ensured that supply was abundant for the festive season.

The programme provided interest-free loans of VND409 billion (US$24.7 million) to help the companies stock essential goods to meet increasing demand.

The companies that benefited from the programme were: Sai Gon Trading Group; Sai Gon Agriculture Corporation; HCM City Union of Commercial Co-operatives; HCM City Food Company; Sai Gon Food and Technology; Ba Huan Co.; Vinh Phat; Huynh Gia Huynh De; and Phu An Sinh.

The companies sell essential goods including rice, sugar, eggs, and a range of fresh and processed foods.

Hong said purchases would increase strongly on the last three days before the festival – January 23-25, and the companies needed to release their goods on these days at reduced prices to help residents enjoy a happy Tet, she said.

Since January 21, the companies have reduced the prices of many essential goods. (VNS)