PM orders balance of petrol demand, supply for domestic market

Prime Minister Pham Minh Chinh has issued a dispatch requesting joint efforts of ministries, sectors and localities to ensure the balance between supply and demand of petroleum products to meet the needs of the domestic market and support socio-economic recovery and development.

In the February 22 document, he noted that petroleum is a strategic, important and sensitive commodity that easily affects people's psychology and directly impacts macro-economic stability, so it must be managed and operated in a scientific and strict manner, in accordance with legal provisions.

He asked the Ministry of Industry and Trade to coordinate with relevant ministries and agencies in managing the balance in the petroleum market to avoid shortage; and conducting inspection and check of supply and distribution units as well as trading stations across the country in order to promptly detect and resolutely deal with acts of hoarding petroleum for profit and other violations.

The ministry was required to collaborate with the Committee for Management of State Capital at Enterprises in working with the Vietnam Oil and Gas Group and related agencies and units to determine the committed output of domestic petrol manufacturing enterprises in the coming time as a basis for the import of petroleum to meet the market demand.

It should actively cooperate with the Ministry of Information and Communications, the Ministry of Finance and relevant agencies to provide adequate, timely and accurate information on the situation of petroleum production, import and distribution, price administration, directions of the Government and the Prime Minister on this issue, as well as related violations and handling measures on the mass media.

The Government leader also requested the Ministry of Finance to coordinate with the Ministry of Industry and Trade and relevant agencies in studying and proposing a plan to adjust the tax policy on environmental protection for petroleum products, and asked the People's Committees of provinces and centrally-run cities to closely inspect and supervise the sale of petrol and oil at retail stores in the localities.