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Quake region imposes temporary price controls

(Xinhua)
Updated: 2008-05-15 17:40

Temporary controls have been imposed on food prices and transportation fares in quake-hit provinces of Sichuan, Gansu, Shaanxi and Chongqing municipality to stem hoarding and speculation.

Local authorities announced the move after the National Development and Reform Commission (NDRC) issued a notice on Wednesday, ordering them to carry out daily monitoring and price controls and punish speculators.

In Mianyang, one of the major regions hit by the 7.8-magnitude quake on Monday, there have been reports of food vendors raising prices to double previous levels, or higher. Some have been fined.

Provincial price regulators in quake-stricken areas also urged local medicine, steel, cement and food companies to maintain stable supplies and prices.