Complete the draft Decree on petroleum business before May 16
The Government Office has just issued a document conveying the opinion of Deputy Prime Minister Hoang Trung Hai requesting the Ministry of Industry and Trade to coordinate with the Ministry of Finance to continue editing the draft Decree replacing Decree 84/2009 on petroleum trading according to the plans agreed upon by the majority of Government members.
Specifically, the base price calculation cycle is calculated as the average of the first 15 days of the mandatory petroleum reserve cycle. The draft Decree also stipulates the principles for setting up and using the Petroleum Price Stabilization Fund (PBF) on a regular and continuous basis to create resources to stabilize domestic petroleum prices, ensuring publicity and transparency.
The adjustment range of retail gasoline prices also needs to be adjusted to suit the current acceptability of our country's economy (including three levels: ≤ 2%, from more than 2% to ≤ 7%, from more than 7%); The Ministry of Industry and Trade will be the agency in charge of regulating retail gasoline prices.
The Deputy Prime Minister also requested to add conditions for key traders importing and exporting petroleum to comply with the planning of traders importing and exporting petroleum; add transitional provisions to regulations on renting warehouses and means of transporting domestic petroleum of key traders and general agents.
The Departments of Industry and Trade will also have the authority to issue certificates of eligibility to act as retail agents for petroleum to agents (including cases where the petroleum retail agent has a system of petroleum retail stores in two or more provinces or centrally-run cities). At the same time, there will be a mechanism for information exchange between the Ministry of Industry and Trade and the Departments of Industry and Trade, and between the Departments of Industry and Trade with each other to manage and supervise the activities of these petroleum retail agents.
The Deputy Prime Minister also assigned the Ministry of Industry and Trade to review current regulations on handling administrative violations in the petroleum sector, compare them with the new decree to report to the Government for consideration, amendment and supplementation as appropriate. At the same time, he requested the Ministry of Industry and Trade to preside over and work with the Ministry of Finance to complete the draft Decree on petroleum trading, and report to the Prime Minister before May 16, 2014 for consideration and signing.
According to NDDT
