Gov’t advances over US$303 million to stabilize energy prices
VGP - Prime Minister Pham Minh Chinh has approved an advance funding of VND8 trillion (US$303.74 million) central budget to the Petrol Prrice Stabilization Fund in a bid to curb energy price hikes.
The move was made at the proposal of the Ministry of Finance to help stabilize domestic fuel prices.
The Prime Minister requested the Ministry of Finance and the Ministry of Industry and Trade to take full responsibility for the accuracy of reported data and ensure strict compliance with regulations, while strengthening inspection and supervision to prevent misconduct, corruption, wastefulness, and policy abuse.
The Ministry of Industry and Trade was tasked with implementing the advance funding, managing and supervising the use of the fund in accordance with regulations, and developing fuel price management scenarios.
Earlier, the Prime Minister had decided to temporarily remove the environmental protection taxes on gasoline (excluding ethanol), diesel and aviation fuel.
