The Ministry of Industry and Trade has issued Directive No. 01/CT-BCT to implement the Prime Minister's Dispatch No. 1437/CĐ-TTg, focusing on ensuring adequate fuel supply for production, business, and consumer needs. The Ministry requires close monitoring of the minimum fuel supply for 2024 by major fuel traders to prevent shortages or disruptions under any circumstances.

Price Management of Fuel Aligned with Global Trends

The Minister of Industry and Trade requires the Domestic Market Department to manage fuel prices in line with global market trends and domestic supply and demand conditions. The Department must also coordinate with the Ministry of Finance to announce and manage prices appropriately, and collaborate with the State Bank of Vietnam to support traders in accessing capital and ensuring supply.

Monitoring and Addressing Violations

The Ministry of Industry and Trade instructs the General Department of Market Surveillance to strengthen inspection, supervision, and enforcement of violations in fuel trading. Market Surveillance Departments in provinces and cities are required to cooperate with the Department of Industry and Trade and local authorities to inspect compliance with fuel trading laws and address issues like stockpiling, profiteering, and smuggling.

Ensuring Security and Business Conditions

The Minister of Industry and Trade instructs provincial and municipal People's Committees to direct relevant agencies to inspect and supervise fuel trading activities and facilitate businesses in transportation, circulation, and distribution of fuel. Provincial Departments of Industry and Trade should guide documentation, procedures, and monitor fuel quality locally.

Compliance with Regulations

Major fuel traders must strictly comply with the legal requirements for minimum fuel supply in 2024, ensuring continuous and adequate fuel supply to the market. The Minister emphasizes the need to maintain regular sales operations, especially before, during, and after the Lunar New Year.

Source: Vietstock