VOV.VN - The Ministry of Finance (MoF) has proposed cutting the environmental protection tax on petrol and oil products by up to 50% in an effort to reduce domestic retail fuel prices and ease cost pressures on businesses and consumers.

The National Assembly (NA) Standing Committee has issued a resolution on Vietnam’s environmental protection tax rates for petrol, oil, and lubricants in 2025, keeping in effect a tax cut introduced to support the economy post pandemic.

The government has viewed price control of key commodities, such as petrol, steel, concrete, transport, livestock feed, food and medical equipment, as a top priority, said Deputy Prime Minister Le Minh Khai in a meeting with ministries and local authorities on March 14.

The Ministry of Industry and Trade (MoIT) has instructed relevant agencies to ensure the supply of petrol, MoIT Deputy Minister Do Thang Hai said at the Government’s regular press conference for February on March 3.

In a document sent to the Ministry of Transport, the private airline Bamboo Airways proposed a preferential loan and some tax cuts to overcome the COVID-19 crisis.