Hai Ha Petro has not paid more than 600 billion VND in debt to the Petroleum Stabilization Fund

Hai Ha Waterway Transport Company Limited has not yet paid the debt to the Petroleum Stabilization Fund of about 612 billion VND and the late payment penalty interest to the budget.

On February 23, the Ministry of Industry and Trade urged Hai Ha Company (Hai Ha Petro) to pay the above amount to the budget after more than a month of no response from the company, but the agency did not set a final deadline. The ministry said that the urging was based on coordination and the Ministry of Finance had urged the company but it had not yet paid.

Previously, in mid-January, the Ministry of Industry and Trade revoked Hai Ha Petro's petroleum import and export license and required the company to immediately pay its debt to the Price Stabilization Fund to the budget.

According to Decree 95 on petroleum trading, the Price Stabilization Fund is established at enterprises when the Ministry of Industry and Trade grants business licenses to key enterprises. However, this leads to the risk of enterprises misappropriating the fund, according to the conclusion of the Government Inspectorate in January.

Hai Ha Petro is one of the three key enterprises that misused the price stabilization fund, not transferring it to the fund account but leaving it in the enterprise's payment account. The amount owed to the Petroleum Price Stabilization Fund by Hai Ha Company as of the end of November 2023 was 612 billion VND. This unit also under-declared and owed thousands of billions of VND in environmental protection tax.

A Hai Ha Petro store in Ha Dong district (Hanoi) hangs a sign saying it is out of gas, after the business had its license revoked, on January 12. Photo: Anh Minh — A Hai Ha Petro store in Ha Dong district (Hanoi) hangs a sign saying it is out of gas, after the business had its license revoked, on January 12. Photo: *Anh Minh*

Thus, up to now, the two businesses whose licenses were revoked, Xuyen Viet Oil and Hai Ha Petro, have not yet paid back the debt to the Stabilization Fund and the late interest to the budget. Previously, these two businesses had their gasoline clearance stopped by customs.

In a document sent to Hai Ha Petro, the Ministry of Industry and Trade cited regulations stating that the Ministry of Finance is the agency in charge of guiding, inspecting, and supervising the petroleum focal points in setting up, spending, and managing the Petroleum Stabilization Fund. This Ministry is also the unit that inspects and controls the source of payment, as well as compliance with regulations on collection and payment, and handles violations of taxes, fees, and other revenues according to its authority.

Meanwhile, the Ministry of Finance said that this agency has measures to enforce and recover misappropriated money from businesses, but the case is under investigation so it needs to coordinate and wait for the verdict from the police agency.

Hai Ha Company is one of 36 petroleum trading enterprises (excluding aviation fuel enterprises) headquartered in Diem Dien town, Thai Thuy district, Thai Binh province. Before its license was revoked, this company had a network of agents and petroleum stores in many northern provinces and cities such as Hanoi, Hai Phong, Quang Ninh and Thai Binh.

At the end of January, Ms. Tran Tuyet Mai, Chairwoman of Hai Ha Company, and her subordinates were arrested for violations in misusing the Price Stabilization Fund and failing to declare and pay environmental protection tax, causing serious losses and consequences.

Mr. Minh

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