Decision No. 39/2005/QD-BTC on Basic Selling Prices of Petrol and Oil in 2005 (Content Attached)

 DECISION

On Basic Selling Prices of Petrol and Oil in 2005

THE MINISTER OF FINANCE

Pursuant to the import tariffs based on the List of groups of goods subject to Import Duties issued with Resolution No. 63/NQ-UBTVQH10 of the Standing Committee of the 10th National Assembly dated 10 October 1998 as amended by Resolution No. 399/2003/NQ-UBTVQH11 of the Standing Committee of the 11th National Assembly dated 19 June 2003;

          Pursuant to Decree No. 170/2003/ND-CP of the Government dated 25 December 2003 providing detailed regulations for implementation of certain provisions of the Ordinance on Prices;

          Pursuant to Decision No. 187-2003-QD-TTg of the Prime Minister dated 15 September 2003 promulgating the Regulations on Management of Business of Petrol and Oil;

          To implement the directive of the Prime Minister in Official Letter No. 476/VPCP-KTTH of the Government Office dated 02 July 2005 notifying the opinion of the Prime Minister on the adjustment of prices of petrol and oil;                 Upon agreement with the Ministry of Trade and the Ministry of Planning and Investment,

          Basic wholesale price

 DECIDES:

          Pursuant to the Decree No. 77/2003/ND-CP of the Government dated July 1, 2003 providing the functions, tasks, powers, and organizational structure of the Ministry of Finance; - Basic selling prices (including value added tax) of petrol and oil of a number of standard types at the actual temperature shall be provided uniformly throughout the country as follows:

          Enterprises engaged in the business of oil and petrol shall decide the prices of oil and petrol of other types based on the actual selling prices of oil and petrol of standard types in the market, and the difference in their quality compared to the oil and petrol of the aforementioned types.

          Responsibilities of ministries, branches, localities and business and production entities: 

Article 2 – Places of sale:

          - Wholesale: goods shall be delivered at central warehouses of provinces and cities in buyers’ vehicles;

          - Retail sale: goods shall be sold at filling stations or retail outlets in provinces, cities in buyers’ vehicles.

          Article 3 – - Pursuant to the Prime Minister's instruction, despite increasing the selling prices of petrol and oil, any increase in the selling prices of essential products such as electricity, coal, cement and so forth shall not be permitted.

Enterprises must reduce costs, particularly those related to petrol and oil, and decrease product prices. Petrol and oil trading enterprises shall continue to reduce management expenses by 5% compared to 2004. - The Ministry of Trade shall be responsible for directing petrol and oil trading enterprises to conduct an inventory of goods in accordance with applicable regulations upon adjustment of prices in order to prevent any negative acts and ensure smooth trading activities..

          - Petrol and oil import enterprises shall be jointly responsible under the law for any breaches of the selling prices of petrol and oil by their subsidiaries or retail agents in their distribution networks.

          - Where there are significant changes in the prices of oil and petrol in the world market, the Vietnam National Petroleum Import-Export Corporation and other enterprises assigned by the State with the duty to import and trade oil and petrol shall be responsible for balancing supply and demand and meeting all needs for petrol and oil within their assigned duties.- Finance departments of provinces and cities shall, in coordination with trade departments, be responsible for inspecting the implementation of selling prices of oil and petrol in their respective localities, promptly identifying breaches and addressing them according to their authority in accordance with applicable laws, or reporting them to authorised bodies for resolution.

          This Decision shall take effect from 00:00 on 3 July 2005 and shall replace Decision No. 17/2005/QD-BTC of the Minister of Finance dated 29 March 2005.

Article 4 TRAN VAN TA (signed)