Over 7 percent increase in petrol price must be reported to PM

Presiding over a regular cabinet meeting on a draft petrol trading decree, Prime Minister Nguyen Tan Dung asked businesses to report to him in case they increase petrol retail price over 7 percent.
 
The new decree is being amended to replace the old one issued by the Government on October 15, 2009.
 
Companies will be enabled to hike the prices less than or equal to 3 percent and must report to relevant ministries of 3-7 percent increase, Mr. Dung said.
 
The new decree should entitle wholesalers to reduce the petrol prices themselves as long as they inform authorized agencies.
 
The State targets to run the economy in accordance with the market rules. Besides, the Government will issue suitable policies to assist the poor and those under the preferential treatment, said the Prime Minister. 

By Phan Thao – Translated by Hai Mien

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