ANTD.VN - The balance of the Petroleum Price Stabilization Fund increased sharply, reaching more than VND 7,424 billion by the end of June 2023.
Data recently released by the Ministry of Finance shows that by the end of June 2023, the remaining balance of the Petroleum Price Stabilization Fund was 7,424.7 billion VND.
Previously, the Fund balance as of the end of March 2023 was VND 5,640.34 billion. The fund allocation in the second quarter was VND 1,779.2 billion and the Fund usage was less than VND 6 billion.
Interest arising on the Fund balance in the quarter was approximately VND 3.23 billion, interest arising on the negative Fund balance was VND 2.09 billion.
Among 34 major petroleum distributors, Vietnam National Petroleum Group ( Petrolimex ) is the enterprise with the highest fund balance of more than VND 3,198 billion, accounting for more than 43%.
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The balance of the Petroleum Price Stabilization Fund reached over 7,400 billion VND. |
Some other key traders with high Fund balances are Hai Ha Waterway Transport Company Limited (over 612 billion VND); Thien Minh Duc Group Joint Stock Company (nearly 468 billion VND); Dong Thap Petroleum Trading Joint Stock Company (over 454 billion VND), Ho Chi Minh City Petroleum Company Limited (333.5 billion VND), Military Petroleum Corporation Limited Company (307 billion VND)...
However, there are also 4 units that are recorded to have negative balance in the Price Stabilization Fund, including: Tan Nhat Minh Petroleum Joint Stock Company (negative 32 billion VND); Vietnam Oil Corporation (PV Oil) negative 22.42 billion VND (at the end of March, this enterprise was negative more than 346 billion VND). In addition, there are other key traders such as Petro Binh Minh and Truong An.
The establishment of the petrol price stabilization fund is carried out simultaneously with the base price management period. This is a financial fund that is not included in the State budget balance.
The source of this stabilization fund is established through the purchase price, paid by consumers (300 VND/liter) but is managed at the enterprise and the use of the fund is decided by the operator (jointly with the Ministry of Industry and Trade).
According to the Ministry of Industry and Trade and the Ministry of Finance, the price stabilization fund is used effectively and flexibly to limit fluctuations in domestic prices compared to the world, ensuring harmony of interests among market participants, helping to maintain a stable supply of gasoline for the domestic market, contributing to controlling inflation and supporting economic recovery.
Recently, the continuous provisioning into the price stabilization fund in the context of falling gasoline prices has caused the balance to increase, so recently, the operator decided to stop provisioning into this fund according to the provisions of Circular 103.
However, this is not a record level for the stabilization fund when at one point the fund had a balance of over VND 10,000 billion at the end of the third quarter of 2020.
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