Specifically, Notice No. 172 dated October 14, 2023 of the Government Office on the draft decree amending and supplementing Decree 95/2021 and Decree 83/2014, the Ministry of Industry and Trade is assigned to preside over and coordinate with relevant agencies to continue researching and developing a new decree to replace the decrees on petroleum trading in accordance with the provisions of the Law on Promulgation of Legal Documents, to be submitted to the Government in the second quarter of 2014.
Decree 80 amends and supplements Decrees 83 and 95 on petroleum trading, which were newly issued 1.5 months ago.
In order to implement the above direction, the Ministry of Industry and Trade requests the Departments of Industry and Trade to review and evaluate the advantages and disadvantages of current regulations in the decrees on petroleum trading. From there, contribute ideas and propose new contents to build a new Government decree on petroleum trading according to the direction of the Government Standing Committee.
Thus, this new decree will replace previously issued decrees on petroleum business, including Decree 83, Decree 95 and Decree 80, which were issued more than a month ago (November 17, 2023).
In the official dispatch sent to solicit opinions from the Departments of Industry and Trade, the Ministry of Industry and Trade requested that opinions be sent to the Ministry before January 12, so that the Ministry can synthesize and develop a new decree on petroleum business and report to the Government .
Previously, the Government Inspectorate concluded the inspection of the implementation of policies and laws in the state management of petroleum, announced on January 4, stating that, from the Ministry of Industry and Trade issuing Circular 38 detailing a number of articles in Decree 83, which does not specify and clearly stipulate the rights and obligations of petroleum import and export traders, and stipulates that petroleum distributors are allowed to buy and sell with each other in violation of regulations, leading to many illegal acts of buying and selling petroleum, the petroleum trading system is broken; the obligations and responsibilities of the main traders are to implement the total source, stabilize the market when necessary... but when buying and selling from each other, the main traders become distributors, through intermediaries, increasing circulation costs to enjoy price differences. In particular, when petroleum wholesale traders buy and sell with each other, distributors buy and sell with each other... creating many intermediary levels to enjoy discounts, price differences, increasing circulation costs.
The Government Inspectorate calculated that the discount and price difference that the main petroleum traders enjoyed in 5 years was nearly 9,800 billion VND.
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