DECISION

ON PETROLEUM BUSINESS MANAGEMENT

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;
At the proposals of the Minister of Planning and Investment in Official Dispatch No. 31/BKH-TMDV of April 3, 2000; the Minister of Trade in Official Dispatch No. 1198/TM-CSTNTN of March 21, 2000; the Head of the Government Pricing Commission in Official Dispatch No. 248/BVGCP-TLSX of March 27, 2000 and the Minister of Finance in Official Dispatch No. 1099/TC-TCT of March 27, 2000,

DECIDES:

Article 1.- As from April 6, 2000, to apply the limited maximum retail prices for various types of petroleum as follows:

- Common car gasoline: 4,600 dong/liter

- Diesel oil of 1% S: 3,800 dong/liter

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- Fuel oil (wholesale price): 2,000 dong/kg.

The Government Pricing Commission shall coordinate with the Ministry of Trade in guiding the application of the above-mentioned prices.

Article 2.- The Ministry of Finance shall assume the prime responsibility and coordinate with the Government Pricing Commission and the Ministry of Trade in guiding the 10% cut of the current charge for petroleum circulation.

Article 3.- The Ministry of Trade shall assume the prime responsibility and coordinate with concerned ministries and branches in directing the petroleum trading enterprises to import and supply them in full volume and proper type, according to the tempo, in order to meet the production and consumption requirements; inspecting and firmly grasping the storage situations, so as to avoid false shortages and market disorder; and severely punishing all acts of speculation, raising petroleum’s and other commodities’ prices in order to gain illicit profits.

Article 4.- The ministers, the heads of branches and local administrations of various levels shall direct their attached units to apply measures to economize petroleum used in consumption, production and business; direct the production and business units to reduce the cost of production in order to minimize the negative impacts of petroleum price adjustment this time.

Article 5.- The State Bank shall coordinate with the Ministry of Finance in apportioning foreign currencies in order to obtain enough sources for commercial banks, promptly satisfy foreign currency requirements of petroleum-importing enterprises according to their assigned quotas.

Article 6.- This Decision takes effect a from the date of its signing.

The ministers, the heads of the ministerial-level agencies, the heads of agencies attached to the Government and the presidents of the People’s Committees of the provinces and centrally-run cities shall have to implement this Decision.

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FOR THE PRIME MINISTER
DEPUTY PRIME MINISTER




NGUYEN TAN DUNG