PM okays funds for first metro line, ministry yet to make any move

SGGP
Although the Prime Minister has approved to allocate mid term investment capital for the first metro line project Ben Thanh-Suoi Tien, the Ministry of Planning and Investment has yet to issue any document to settle the issue. 

The pillars on the right of the photo is the under construction above ground stretch of the first metro line Ben Thanh-Suoi Tien in HCMC (Photo: SGGP)

The pillars on the right of the photo is the under construction above ground stretch of the first metro line Ben Thanh-Suoi Tien in HCMC (Photo: SGGP)

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.

By KIEU PHONG – Translated by Hai Mien

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