Petroleum wholesalers will be allowed to increase their credit limit
In the face of complicated fluctuations in the world petroleum market and domestic petroleum supply and demand movements, recently, the Prime Minister has requested to implement many solutions to stabilize the market and ensure domestic petroleum supply. , support recovery and development economy – society.
Following the Prime Minister’s direction on the implementation of tasks and solutions according to his/her competence in order to ensure the supply of petrol and oil for the domestic market, there is no shortage, the Governor State bank has written requests for commercial banks to implement a number of solutions in 2022.
In particular, the monetary authority requires commercial banks to balance capital sources, consider creating conditions for an additional credit limit granted to key petroleum businesses (according to the list published above). website of the Ministry of Industry and Trade).
In particular, the State Bank asked banks to focus on reviewing petroleum wholesalers assigned by the Ministry of Industry and Trade to increase the volume of petroleum imports to promptly import petroleum according to the import quota, contributing to ensure the supply of petroleum for the domestic market.
In addition, commercial banks are also required to accelerate reforms, simplify internal processes and procedures, shorten credit approval time; diversifying credit products suitable for this group of petroleum businesses.
Currently, the domestic market has 36 leading petroleum trading enterprises, such as Petrolimex, PV Oil, Mipec, Saigon Petro…
Currently, the domestic market has 36 leading petroleum trading enterprises, such as Petrolimex, PV Oil, Mipec, Saigon Petro… Photo: Chi Hung.
The State Bank also stated that the review, appraisal and decision to grant credit and increase credit limit for the above-mentioned petroleum wholesalers must comply with the current credit mechanism. In case of problems, banks must immediately report to the Governor of the State Bank for consideration and handling.
The Governor requested the chairman of the board of directors and the general director of commercial banks to direct the whole system, strengthen inspection and supervision, and promptly meet the credit capital needs of key businesses. petrol and oil business that meets the prescribed conditions. In addition, the management agency requires strict handling of violations and lack of responsibility in credit work with this group of businesses.
For banks with outstanding loans, they are required to report monthly to the State Bank through the Credit Department of Economic Sectors on the situation of credit granting to petroleum importing and trading enterprises.
Sharing at the questioning session on March 16 yesterday, Minister of Industry and Trade Nguyen Hong Dien said that in order to promptly meet domestic demand, in addition to increasing foreign petroleum imports, it is necessary to boost production capacity. petrol and oil of domestic enterprises, especially those that both exploit and refine.
Gasoline price chart.
The Ministry of Industry and Trade said it will coordinate with all parties to refine and refine Nghi Son to keep its initial commitment to supply 35-40% of the current domestic petroleum volume.
Minister Dien also said that the domestic petroleum source still ensures sufficient supply by the end of March thanks to the inventory and additional imports from March 15 with about 3 million m3 of gasoline.
Meanwhile, the average domestic demand for petroleum is only about 1.3 million m3/month.
Currently, the Ministry of Industry and Trade has also directed enterprises to import in March twice as much as usual from 1 million m3 or more. Therefore, the supply of this essential item will not be in short supply.
Regarding gasoline prices, Minister Dien said that in the past time, price management has been implemented every 10 days. While the world price increase margin is very large (40-60%), in Vietnam it is only 29-44%, which is close to the lowest level in the world. The stabilization fund has set aside 500-1,500 dong/liter and will soon reduce environmental protection tax and reduce petrol prices.
at Blogtuan.info – Source: vtc.vn – Read the original article here
