On March 20, Prime Minister Pham Minh Chinh chaired a meeting of the Standing Committee of the Government on funding to support gasoline and oil price stabilization.
According to reports and opinions at the meeting, in the face of the developments in the Middle East situation and difficulties in the world oil market, in recent days, the Government and the Prime Minister have organized many meetings and issued official dispatches requesting the implementation of timely, flexible and effective adaptation solutions to ensure domestic energy security.
The Prime Minister has had phone calls, sent official letters to leaders of many countries, as well as worked with Ambassadors of countries in Vietnam to request support for Vietnam to ensure energy security.
Implementing the direction of the Prime Minister, ministries, branches, and agencies have deducted from the gasoline and oil price stabilization fund and adjusted taxes on gasoline and oil items to support gasoline and oil prices.
Corporations and businesses strengthen production and supply of gasoline, oil, coal, electricity, and gas to the economy; implement energy transition, with new products gradually replacing fossil fuels.
Promote the movement to use energy economically and efficiently; strengthen inspection and handling of acts of smuggling, hoarding goods, speculation, and profiteering in gasoline and oil business.
Concluding, Prime Minister Pham Minh Chinh clearly stated that the highest goal is not to let energy and gasoline shortages occur in any case; reduce the negative impact of the energy crisis situation on macroeconomic management; not to let the supply chain, production, business and consumption process of people break down.
To achieve these goals, we have implemented a number of policies, including the policy of stabilizing gasoline and oil prices according to regulations.
However, in the face of rapid, complex developments and potentially prolonged crises, we must prepare in advance for the case of a shortage of the gasoline and oil price stabilization fund.
The Prime Minister agreed in principle with the proposal of agencies on the state budget advance (revenue increase source in 2025) for the gasoline and oil price stabilization fund, when the crisis passes, the fund will be used to return to the budget; assigning the Ministry of Finance to preside over and coordinate with the Government Office and the Ministry of Industry and Trade to urgently develop and complete the draft report, requesting policy approval from competent authorities for the Government to implement according to its authority.
The expected application time is until the end of April 15, in case of prolongation, the Government will base on the actual situation to continue applying and report back.
The Prime Minister emphasized the requirement that management must monitor and firmly grasp the situation, respond promptly, build policies based on data, the actual situation, suitable to the socialist-oriented market economy, the country's conditions, must have a roadmap and appropriate steps, not abrupt, not shocking.
Operating and managing the gasoline and oil market with control and price stabilization, but at the same time, it is necessary to consider and take into account the gasoline and oil price factors in neighboring countries to both support people's lives, businesses' production and business, and prevent and combat smuggling across borders.
The Prime Minister assigned Deputy Prime Minister Ho Duc Phoc to continue directly directing the contents related to the budget, taxes, fees, and charges.
Deputy Prime Minister Bui Thanh Son directly directs contents related to market management and stabilization, state management of the Ministry of Industry and Trade; handles work according to authority, if exceeding authority, reports to the Prime Minister.
