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Wednesday, July 24, 2024

Two firms investigated for late fuel price stabilization fund transfers

The Saigon Times

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HCMC – The Ministry of Public Security has launched a probe into two fuel firms for their delays in transferring a combined VND24 billion to the fuel price stabilization fund.

The Ministry of Industry and Trade today, October 21, said that upon receipt of documents from the ministry, the police had started the investigation, the local media reported.

The two fuel firms are Thai Son B.Q.P Petroleum JSC, headquartered on Phung Khac Hoang Street in HCMC’s District 1, and Duong Dong-Hoa Phu JSC, located in Binh Thuan Province’s Tuy Phong District.

In late June, the Ministry of Industry and Trade sent dispatches to the two fuel distributors urging them to pay the fund’s balance to the State budget. Accordingly, Thai Son B.Q.P Petroleum JSC would have to pay over VND21 billion, while the other owed over VND3.7 billion.

The two firms were ordered to send a report on their payments to the Ministries of Finance and Industry-Trade prior to July 10, but failed to do so, resulting in the probe.

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