The statement was made by head of HCMC Urban Railway Management Board Le Nguyen Minh Quang at a meeting of the city People’s Committee yesterday.
Mr. Quang said that the project has faced severe capital shortage to continue implementation. He proposed the city People’s Committee to consider an advance of VND500 billion ($22 million) to pay the project’s contractor.
Director of the Department of Finance Phan Thi Thang replied that the city’s budget is affordable for the advance but it has got stuck with procedures and must get the Ministry of Finance’s permission.
Standing deputy chairman of the city People’s Committee Le Thanh Liem said that the Prime Minister has approved to allocate funds for the project. So the Ministry of Planning and Investment should have issued documents to consult the city on following steps to arrange capital for the project.