NA members demand solutions to fuel shortage, inflation, exchange rates

National Assembly (NA) members have asked the relevant government agencies to tackle rising inflation, currency exchange rates, and the shortage of fuel in order to sustain GDP growth and fulfil the socio-economic development plan.

NA members meet at the ongoing 3rd Ordinary Session of the National Assembly to discuss immediate solutions for economic recovery.

These issues were raised by Assembly members on Tuesday during the National Assembly (NA)’s ongoing 3rd Ordinary Session, chaired by Assembly President Dr Xaysomphone Phomvihane.
Inflation, currency exchange rates and the shortage of fuel are having a direct impact on people’s quality of life, are hindering socio-economic development, and require immediate solutions.
Farmers are struggling to buy enough fuel for use in their tractors, while the high price of fuel is driving up production costs and affecting crop yields.
These issues mean that harvests could be delayed and yields might be reduced, which could result in a food crisis, especially if the cost of rice were to increase significantly.Several Assembly members highlighted the spiralling inflation rate and pointed to the unfavourable exchange rate of the kip against the baht and dollar, saying the depreciation in the value of the kip was driving up the price of consumer goods and equipment, as well as gold.
Some members questioned whether migrant Lao workers were getting fair treatment and if the system was being properly regulated. They suggested that registered companies should be in charge of the process and be responsible for the protection of Lao workers in other countries.
These companies should provide clear information and details, and not hide the truth about human trafficking, bad working conditions, and mistreatment of workers.
Assembly members also called on the government bodies responsible to tackle public debt, do more to promote business, productivity and investment, and ensure better oversight of developments in relation to tourism and transport, so there were no harmful impacts.
It was also suggested that methods of revenue collection and expenditure control be computerised to prevent money going astray and ending up in the wrong pockets, while trade and pricing problems also needed to be addressed.
Solutions to these issues will be put forward by the relevant government agencies in the coming days, who will spell out clear plans for approval by National Assembly members and subsequent implementation.

By Times Reporters
(Latest Update June 16, 2022)