The 16-member committee is chaired by Kongkeo Xaysomkham, a member of the Party Central Committee and President of the National Institute of Economic and Social Sciences. Its main duty is to direct and implement measures to tackle such inflation and price issues.

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The formation of the committee is part of the Lao Government's efforts to counteract the negative impacts of the global economic situation. This move aims to not only address the current inflation but also lay the groundwork for stable and sustainable economic development in the future.

In the coming period, the committee will conduct research and analyse the economic situation, proposing effective ways to stabilize prices and control inflation. These measures may include adjusting monetary and fiscal policies, controlling the market, and supporting essential production sectors.

Source: VNA