Prime Minister of Vietnam's instruction on ensuring an adequate supply of petroleum for production, business, and consumer purposes during the Tet

Prime Minister of Vietnam's instruction on ensuring an adequate supply of petroleum for production, business, and consumer purposes during the Tet

Relevant ministries, sectors, localities, and businesses are requested to implement the following key tasks and solutions:

- Minister of Industry and Trade:

  + Regularly monitor and grasp the global and domestic petroleum market situation; strengthen inspection, supervision, guidance, and timely adjustment of the allocation of petroleum resources in accordance with market conditions; proactively come up with solutions in advance and have appropriate contingency plans to ensure no shortage or disruption of petroleum supply for production, business, and consumption by people and businesses.

  + Coordinate with relevant agencies to strictly handle organizations and individuals who violate regulations on petroleum business, while ensuring timely measures to prevent any impact or interruption of petroleum supply in provinces and cities, especially during the upcoming Lunar New Year of the Dragon 2024.

  + Chair and closely coordinate with the Ministry of Finance in managing petroleum prices in accordance with the law, in line with market conditions, and ensuring a balance of interests between the State, businesses, and the people.

- Minister of Finance:

  + Chair and coordinate with the Ministry of Industry and Trade and major petroleum dealers to review and decide on adjustments to relevant costs in the formula for calculating the base price of petroleum, ensuring timely compliance with legal regulations and in line with the fluctuations of the petroleum market.

  + Strictly implement the provisions on electronic invoices for each sale and connect data with tax authorities for retail petroleum stations according to Decree 123/2020/ND-CP.

- Chairman of the State Capital Management Committee at Enterprises:

  + Chair and closely coordinate with the Ministry of Industry and Trade to direct the Vietnam National Oil and Gas Group and the Vietnam Oil and Gas Corporation to proactively develop appropriate, scientific, and efficient production, distribution, and regulation plans for petroleum; have contingency plans to prepare for supply sources and timely supply petroleum to retail outlets in the enterprise's distribution system in localities to ensure sufficient petroleum supply for the market.

- Minister of Information and Communications:

  + Coordinate closely with the Ministries of Industry and Trade, Finance to direct the press agencies and collaborate with Vietnam Television, Voice of Vietnam, and Vietnam News Agency to provide timely, accurate, and reliable information about petroleum supply, the Government's guidelines and directions, and those of the ministries and local authorities regarding petroleum supply to avoid spreading false information that causes market confusion and instability. The Ministries of Industry and Trade and Finance should proactively provide timely information to the Ministry of Information and Communications and the press agencies as regulated.

- Ministers of Industry and Trade, Finance, Public Security, Government Inspectorate, National Steering Committee 389, Chairpersons of the People's Committees of centrally-run provinces and cities, and heads of relevant agencies according to their functions and tasks are assigned to continue strengthening inspections and supervision to timely detect, prevent, and strictly handle violations in accordance with the law regarding hoarding, smuggling of petroleum, violations of regulations on petroleum business, and regulations on electronic invoices.

- The Office of the Government shall monitor and urge the fulfillment of assigned functions and tasks and promptly report any matters beyond its authority to the Prime Minister.

Please refer to Official Telegram 09/CĐ-TTg issued on January 24, 2024, for detailed content.

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