Activities

Make drastic fuel price transparency

Monday, 26/09/2011, 13:25 GMT+7

TT - Talking to Youth, Dr. Hoang Tran Hau, deputy director of the Academy of Finance, said: "directly participate in workshops on operating gasoline prices at the Ministry of Finance on 20-9, I see what people need most is a fierce spirit transparency, to find the essence of each item of profit and loss account of petroleum have been met.

If the prices reasonable, clearly, I think people do not complain, but over time many public occasions by burning themselves felt blind, it was increased quickly, then slow down, I always see holes businesses needs.

By the minister asked the conference, general manager also did not state corporation losses on each item. Then the next day of this recognition are: a profit. It is difficult for a confidence here. "

 

 

 

Dr. Hoang Tran Hau - Photo: day suspension

 

Director-General but not sure it's hard to understand!

* Sir, General Director of Petrolimex next meeting told the press conference today that the reason he did not just profit and loss for each item to prepare materials for the workshop, not to prepare materials for the report ?

-Dr. Prince died post: The reason is not convincing. I found the problem is in the workshop, the Ministry of Trade and Industry officials repeatedly asserted at the time of 26-8 (the lower price of fuel) business losses. So even as Minister of Finance asked the profit and loss items in each of the stars, leaders said corporation has not been separated.

A CEO that do business profit and loss items you are selling some do not grasp is very confusing, especially at this sensitive time. I dare not attempt to assert his outright lie, but clearly a meeting of the executive that said do not remember the price is incredible. Especially when he asserted that "separate is not" and "How far is" ...

Another thing that I see at the press says, is that at present, Bui Ngoc Bao emphasized in the 2007, 2008, 2010 Petrolimex big loss but still have to pay thousands of billions of tax. Ministers disconnect, sure, but he said it was not to continue the presentation. That said the average person to do is Petrolimex hole is fixed contribution budget.

But a professional will know which contributions are mainly VAT, excise tax ... which is essentially closed end consumer, not the corporation. Presenting such information misleading.

* The Ministry of Trade and Industry officials maintain that gas prices and very transparent. Financial researcher, he has seen transparent and easy to understand yet?

- The right policy is very transparent. There are elements of the unknown value. Corporation before the base price is announced on the website but then closed for unknown reasons. Deputy Minister of Trade and Industry said the base price on a public market, one should be able to take. But the news is not easy to find. How transparent is not easy. These factors will become increasingly difficult calculations.

Enterprises today when gasoline prices usually only want to say "my hole", but even the experts would like to clarify that the hole is not easy. So want to see the specific numbers of inputs, how costs. For example, the corporation has paid too high a cost rent prices closer to market, sell and buy a reasonable time, manpower is too crowded? ... That this information is very difficult to reach, even with a manager, let alone people. The need is transparency of business management, not just gasoline numbers.

* To date the Ministry of Trade and Industry has said that the way the business showed interest 780 VND / liter of the Ministry of Finance is not properly priced basis, he see?

- I see the Ministry of Finance has explained quite clearly. The calculation shows that non profit corporation for the 300 copper / liter also paragraph 780 VND / liter is a different outlook on business and the goal is clear, "stamina" of the business to run. Unlike so it can not follow pricing basis. Comparing these two calculations is lame.

So far our results also clearly confirm that Petrolimex time discount on the interest they are 26-8, have over 400 items of interest to the / liter. The fact that people need information, not the chorus, "according to the business cost base of the hole." I myself, on 15-9, when many businesses and the Ministry of Industry and Trade proposed price increase, I can do the calculation.

I see if the price is 130 USD / barrel, the new eligibility base price increase of 7%, as prescribed, to be gained. But gas prices in Singapore last time was $ 121.7 / barrel, so the proposal to increase gasoline prices at the time the 15-9 factors are clearly unreasonable.

Must prevent the same "voice"

 

Look up the words than the hole

 "Need to review the gravamen of the business losses when oil world price fluctuations. Other businesses suffered losses at this time and interest in other times is very normal, no one complained at all.

For the determination of profits and losses of the business will be listed at the end of the fiscal year balance sheet, but no one calculated for each shipment even asking for style. The determination of the profits and losses as well as methods to manage inventory, but not on the world price to be called immediately for shipment loss selling.

Many businesses say any loss due to selling below cost basis. But actually they did not hole as the base price was 300 yuan / liter interest norms, plus 600 contract / liter and cost of doing business. "

* Until now, people still insecure when asked businesses, state agencies often respond. Nay so excited to see another. But do to the excitement was not for a moment?

 - Enterprises and State agencies agree is always strange. The nature of state agencies and businesses must always have "conflict" as a demand side and managed a profitable run right at all possible.

In market economies, it is very likely that emergence of interest groups. If we do not stop the symbiosis between business interests and a group of state officials will conspicuously state enterprises and some state agencies have the same voice, the same "voice", it is difficult independent monitoring, to protect the interests of shareholders. Maybe in the U.S., this has not put out because enterprises are state-owned enterprises, but prevention is carried out early than late.

* Enterprise and State agencies have seen the same tone in the petroleum market. Is this a risk?

- Can be overly worried, but it is not without basis. Economists have referred to the concept of "friendship capital" refers to a group of business risk and the officials tend to link together to make decisions beneficial to the enterprise.

We must prevent this because the law does not prohibit the actual business and other officials invited to dinner, play golf, then another New Year's greetings may be other intimate relationships are difficult to control. The problem is that transparency must be the basis of executive agencies.

* Ministry of Trade and Industry not to worry if gasoline prices down the distribution system does not enter the business, not selling agent for loss ...

- Business losses, it is proper to discount to dealers and agents will reduce the psychological part in moderation, reduce losses. But petroleum industry is subject to conditions, clearly defined business must reserve and sales agents must register by the hour. We take care to be true, but businesses and their agents are not selling the violation and must be treated not acceptable and "hat".

Must also add that when world prices fall, many enterprises to have increased to very high discount to dealers before discounts to consumers. Can not say when the great interest and my interest to sell, only hole I was.

Transparency commissions

* The transparency of the costs of gasoline, he said, should continue to put out as many business ideas is deliberately lo purchase price for personal gain in it?

- I think the oil companies can and should take measures to lower business costs, particularly from the import stage. Many experts wonder how the U.S. has chosen to buy a high-risk, low application of modern business to reduce costs when world prices rise.

In particular, the need to find a supply of cheap oil, cheap transportation costs, lower insurance premiums. And State departments also need to promote the search for markets or monitoring to ensure oil companies buy the lowest price source.

* This means that there are many elements in the fuel is kept private, should have the facility to the public?

- Yes. Many business expenses are difficult to determine the reasonableness, if closed, no bidding, especially many oil companies are now established transport businesses and insurance to cover yourself. In particular, while an addition, it is an incentive and commission by the exporters for shipments of fuel ...

World trade rules are there. How long does a business do not talk about this money if it is not, how much, where to accounting, have been fully accounted or taken to the fund or of any addresses ... These costs must be accounted as income of the business or subtracted from the base price.