Bank's debt collection from petroleum stabilization fund of enterprises: What does the Ministry of Finance say?

10/05/2023 15:29 Ha Loan Print article

ANTD.VN - The case of BIDV Bank Long Bien branch automatically deducting debt from the Petroleum Price Stabilization Fund of Hai Ha Company has raised some issues in the management of this fund at enterprises. The Ministry of Finance has informed about this issue.

On October 5, at the regular press conference for the third quarter of 2023, the Ministry of Finance responded to information related to maintaining the Petroleum Price Stabilization Fund at enterprises, especially after the incident in which Hai Ha Waterway Transport Company Limited (Hai Ha Company) had its debt automatically deducted from the Stabilization Fund by BIDV Bank, Long Bien branch.

Previously, Hai Ha Waterway Transport Company Limited had its debt automatically deducted by the Bank for Investment and Development of Vietnam (BIDV) - Long Bien Branch from the Petroleum Price Stabilization Fund account established at this branch.

Vụ ngân hàng trích nợ Quỹ bình ổn giá xăng dầu đặt ra nhiều vấn đề về việc quản lý quỹ này tại doanh nghiệp ảnh 1

The case of banks deducting debt from the Petroleum Price Stabilization Fund raises many issues about the management of this fund at enterprises.

Responding to this issue, Mr. Pham Van Binh - Deputy Director of the Price Management Department (Ministry of Finance) said that according to current regulations, key traders of petroleum must set aside a Price Stabilization Fund, pay and monitor it separately in an account opened at a bank.

“The main traders must be responsible for choosing which bank to manage, preserve the fund balance, and how to spend the fund. Currently, Hai Ha and other main traders have reported their accounts to the Ministry of Finance and the Ministry of Industry and Trade for monitoring and inspection...” – Mr. Binh said.

Regarding the debt collection of Hai Ha Company, Mr. Binh said that the Ministry of Finance has sent an official dispatch requesting BIDV Bank Long Bien Branch to strictly comply with the regulations in Decree No. 95 of the Government.

At the same time, a document was sent to the State Bank informing about the incident, requesting the State Bank to direct commercial banks in the banking system and foreign bank branches legally operating in Vietnam - where there are key traders trading in gasoline and oil registering to open accounts for the Gasoline and Oil Price Stabilization Fund - to comply with the provisions of Decree No. 95/2021/ND-CP dated November 1, 2021 of the Government.

It is known that after the bank collected the debt from the Petroleum Stabilization Fund account, Hai Ha Company sent a written report to the Domestic Market Department (Ministry of Industry and Trade) and the Price Management Department (Ministry of Finance). At the same time, the company also requested the bank to return the above amount. The bank's debt deduction from the Petroleum Stabilization Fund account is not in accordance with the provisions of Decree 95 on petroleum trading.

Speaking further on this issue, Deputy Minister of Finance Nguyen Duc Chi said that currently, regulations on the establishment, operation and management of the Petroleum Price Stabilization Fund are fully in place. However, the recent management and use of the Petroleum Price Stabilization Fund has raised the issue for the management agency, how to manage it strictly and transparently.

"The Ministry of Finance has assigned the Price Management Department to review and consider current regulations and actual developments to propose to competent authorities, or resolve within its authority to move towards the above goal," said Mr. Chi.

According to the Deputy Minister of Finance, the Ministry of Industry and Trade is currently amending Decree 83/2014/ND-CP and Decree 95/2021/NQ-CP on petroleum trading. Accordingly, this issue has been given attention and the Ministry of Finance will contribute.

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