Nghe An Provincial People's Council agreed to adjust more than 35 billion VND of public investment capital for 12 projects.
(Baonghean.vn) - The capital of 12 public investment projects that are behind schedule, unable to disburse, or the investors have mobilized their own capital to invest in completing the projects, has been unanimously adjusted by the People's Council of Nghe An province to reduce capital with a total amount of more than 35 billion VND to transfer to 8 other projects.
On the morning of November 13, at the 16th session, the 18th Nghe An Provincial People's Council passed a Resolution on adjusting the 2019 public investment plan to 2020 and the 2020 public investment plan in conjunction with adjusting the 2016-2020 medium-term public investment plan.
Comrade Nguyen Xuan Son - Chairman of the Provincial People's Council and Vice Chairmen of the Provincial People's Council Cao Thi Hien and Hoang Viet Duong chaired the meeting.
Attending the meeting were comrades: Thai Thanh Quy - Alternate member of the Party Central Committee, Secretary of the Provincial Party Committee; Nguyen Van Thong - Standing Deputy Secretary of the Provincial Party Committee; Nguyen Duc Trung - Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee; comrades in the Standing Committee of the Provincial Party Committee, Vice Chairman of the Provincial People's Committee; representatives of the leaders of the Provincial National Assembly Delegation, Standing Committee of the Vietnam Fatherland Front Committee of Nghe An province;...
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| Delegates vote to approve the draft resolution at the 16th session of the 17th Provincial People's Council. Photo: Thanh Duy |
Specifically, in this Resolution, the Provincial People's Council agreed to adjust the 2019 public investment plan to extend to 2020 in conjunction with adjusting the 2016-2020 medium-term public investment plan of 4 projects; accordingly, the capital plan of 4 projects was adjusted down with a total amount of nearly 2.5 billion VND to be transferred to 2 other projects, including 1 debt repayment project and 1 transitional project.
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The Provincial People's Council agreed to adjust the 2020 public investment plan in conjunction with adjusting the 2016-2020 medium-term public investment plan of 8 projects; accordingly, the capital plan of 8 projects was reduced by a total of more than 32.6 billion VND to be transferred to 6 other projects, including 1 debt repayment project and 5 transitional projects.
More than 30.9 billion VND from the planning capital, investment preparation (unallocated capital) and unallocated recovered capital was also approved by the Provincial People's Council to be transferred and allocated for 6 projects.
Of which, unallocated planning and investment preparation capital (over 23.8 billion VND) is allocated for 2 projects; unallocated recovered capital (over 7 billion VND) is allocated for 4 projects.
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In the Submission to the Provincial People's Council, the People's Committee of Nghe An province stated: The principle of downward adjustment for the 2019 public investment plan extending to 2020 is to reduce the planned targets of completed projects, final settlements that have exhausted capital needs or are stuck with procedural documents, site clearance, and are unable to fully disburse the assigned plan targets in 2020.
As for the 2016 - 2020 medium-term plan, the adjustment to reduce the medium-term public investment plan is made according to 3 principles: projects and works in the process of finalizing or approving projects that have reduced value compared to the total investment approved in the investment policy, resulting in an excess of the assigned medium-term plan; projects and works that have been allocated capital from other legal sources, resulting in an excess of the assigned medium-term plan.
Finally, due to changes in usage needs or implementation capabilities of projects and other reasons, adjustments are assessed and controlled by specialized agencies. Only downward adjustments are made in cases where there is no outstanding debt in basic construction and the plan for putting into operation and using the invested capital does not cause waste.
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On the other hand, the capital source is adjusted down from the above projects in the 2016 - 2020 medium-term plan and the 2019 plan extended to 2020, along with the source from the transfer, allocation of planning capital, investment preparation (unallocated capital source), the remaining unallocated recovered capital is arranged according to 4 principles.
First of all, projects included in the list of medium-term public investment plans for the period 2016 - 2020 from the central and local budgets but lacking capital according to the capital structure approved by competent authorities, with good disbursement progress (having fully disbursed the planned capital allocation target), projects that must allocate capital to handle outstanding debts in basic construction under the responsibility of the provincial budget, and have the need and ability to fully disburse additional capital according to regulations.
Along with that, priority should be given to arranging capital to pay off outstanding debts of basic construction arising before January 1, 2015, arranging capital to build provincial planning, and accelerating the progress of completion and putting into use of transitional projects.
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| Delegates vote to approve the draft resolution at the 16th session of the 17th Provincial People's Council. Photo: Thanh Duy |
If the target is adjusted down in a field or locality, priority will be given to increasing the target in that field or locality. If the field or locality does not have a project that meets the above conditions, it can be transferred to another field or locality.
Attach the adjustment to increase the annual plan targets compared to the medium-term plan (if necessary) to ensure that it does not exceed the assigned medium-term plan. The adjustment to increase the medium-term plan 2016 - 2020 must ensure that it does not exceed the provincial budget capital structure approved by the competent authority.
Nghe An is one of the localities with the highest rate of public investment disbursement in the country. In the context of a sharp decrease in social spending demand due to the Covid-19 pandemic, State spending is the main tool to stimulate aggregate demand, help the economy recover and maintain growth, so Nghe An has implemented many solutions to accelerate the rate of public investment disbursement, striving to reach 100% this year./.