Electricity workers repairing the power lines in Lao Cai city, the northern mountainous province of Lao Cai (Photo: VNA) Hanoi (VNA) - The Government Inspectorate on May 24 announced a 35-day probe of the controversial electricity price hike. Bui Ngoc Lam, Deputy Inspector General of the Government Inspectorate, said it would look into the “observance of legal regulations” in the price hike that took effect from March 20 this year, as well how an 8.36 percent rise was chosen. The 12-member inspection team will be made up of officials from the Ministry of Finance and the Ministry of Industry and Trade, led by inspector Le Quang Tiep, deputy head of economic complaints and denunciations department. Tiep previously headed the inspection into the illegal acquisition of pay TV firm AVG by State-owned telecom operator MobiFone at a price much higher than the market value. Lam asked State-owned … [Read more...] about Government Inspectorate to probe power price hike
Price hike paragraph
Electricity workers repairing the power lines in Lào Cai City, the northern mountainous province of Lào Cai. The Government Inspectorate yesterday announced a 35-day review of the electricity price hike that has drawn widespread complaints in recent times. — VNA/VNS Photo Quốc Khánh HÀ NỘI — The Government Inspectorate yesterday announced a 35-day review of the controversial electricity price hike. Bùi Ngọc Lam, deputy head of the watchdog, said it would look into the “observance of legal regulations” in the price hike that took effect from March 20 this year, as well how an 8.36 per cent rise was chosen. The 12-member inspection team will be made up of officials from the Ministry of Finance and the Ministry of Industry and Trade, led by inspector Lê Quang Tiệp, deputy head of economic complaints and denunciations department. Tiệp previously … [Read more...] about Government to probe power price hike
The Hanoitimes - Senior government officials said that electricity and gasoline are items leaving impacts on the economy and catching public attention. PM orders checking of power price hike following social outcry Vietnamese media has questioned the Ministry of Industry and Trade (MOIT) about labeling “secret” the plans for raising electricity and gasoline prices. Government April meeting with the chairmanship of Chairman Mai Tien Dung. Photo: VGP VnExpress asked the MOIT at the government’s regular meeting last weekend why it tagged the adjustment of power and gasoline prices as “state secret” and basing on what ground. In response, Deputy Minister of MOIT Do Thang Hai said that the ministry keeps the plans unrevealed before the official announcement with an aim to avoid any unexpected impacts on the society due to the crucial role of electricity and petroleum in the economy. Hai attributed the Law on Protecting State … [Read more...] about Why does Vietnam label plans on energy price hike “secret”?
The Hanoitimes - A large number of households found a sudden rise in their electric bills in April. Vietnam may face power price hike in 2019 Vietnam may hike power prices in 2019 Power price hike puts more pressure on inflation next year Vietnam raises electricity prices by 8.36% today, to 8 US cent/kWh Vietnam likely to raise electricity prices by 8.36% in March Vietnam’s Prime Minister Nguyen Xuan Phuc has asked the Government Inspectorate (GI) to check the rise of 8.36% in the power prices which Electricity of Vietnam (EVN) made in March amid public indignation. A hydropower plant of EVN. Illustrative photo The GI needs to work with the Ministry of Industry and Trade (MOIT), which manages EVN, and the Ministry of Finance to check the calculation of electricity prices and the bill collection since the price hike. The PM’s decision was made after a large number of households criticized EVN for a sudden rise in their electric bills in … [Read more...] about PM orders checking of power price hike following social outcry
Giáp Bát Bus Station. Recent petrol price hikes were putting pressure on consumer prices. VNA/VNS Photo Quang Quyết HÀ NỘI – Petrol price hikes in April were putting pressure on prices but the consumer price index (CPI) was still under the control, according to the General Statistics Office (GSO). Petrol prices rose twice in April, adding altogether VNĐ2,500 per litre (US$0.11), equivalent to 14 per cent, to VNĐ19,703 for petrol E5 RON92 and VNĐ21,235 for petrol RON 95. Coupled with electricity price increases at the end of March, it was likely to affect the market, which could push up CPI by 0.41 per cent in April, GSO estimated. According to Nguyễn Văn Sưa, Deputy Chairman of the Việt Nam Steel Association, recent increases in petrol and power prices were certainly causing difficulties in consumption and production. For energy-intensive industries like steel, … [Read more...] about Fuel price hikes create pressure but CPI under control