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Wednesday, October 5, 2022

Proposal on transferring funds to traffic projects rejected

By Van Ly

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HCMC – The National Assembly Standing Committee has turned down a proposal on transferring VND932 billion from the health, social security and labor sectors to three traffic projects.

At an extraordinary meeting on August 29, the National Assembly Standing Committee discussed the allocation of capital to economic recovery programs and extra State budget in 2022, as well as the remaining capital from the central budget in the 2021-2025 period.

For the VND932 billion, which will not be used up, including VND802 billion for the health sector and VND130 billion for social security and employment, the Government proposed allocating the capital to three traffic projects.

However, the transfer of capital from the health, social security and employment sectors to transport is not in line with Resolution 43, according to the chairman of the Finance and Budget Committee of the National Assembly, Nguyen Phu Cuong.

The Finance and Budget Committee suggested using that amount of money for other projects which have not been allocated enough capital in the social segment, instead of transferring it to other fields.

In terms of the capital adjustment proposed by the Government, especially the changes in the entire list and expected capital level for projects in the health sector, the Finance and Budget Committee believed that it was suitable and necessary for the current situation.

For the allocation of the VND176 trillion capital, the Finance and Budget Committee will seek permission from the National Assembly Standing Committee on promulgating a resolution to allocate the capital to each sector and field.

For the three traffic projects, the Government should consider using capital from other sources such as VND11,437 billion from the infrastructure segment, if necessary.

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