Prime Minister Nguyen Tan Dung agreed in 2015 to use stabilizing funds to lower E5 petrol prices so as to widen the gap between E5 and RON 92 from VND300/l to VND500/l to encourage E5 consumption.
Prime Minister assigned the Ministry of Science and Technology to coordinate with relevant agencies to strengthen state management for production, import and use of fuel additives to prevent fire and explosion, strictly handling violations in accordance with laws.
E5 consumption encouraged
Prime Minister assigned the Ministry of Finance to research and report to the Congress and Standing Committee of the National Assembly to consider, amend and supplement regulations on environmental protection tax on gasoline and bio-fuel to encourage the use of biofuels.
The Ministry of Finance shall quickly issue guidelines to implement the provisions of special taxes on mineral gasoline and E5 petrol as soon as the amended and supplemented law on Special Consumption Tax takes effect.
The Prime Minister assigned the Ministry of Finance to adjust export tax on ethanol and cassava materials to encourage use in Vietnam, contributing to ensure raw materials for biofuel production.
Ministry of Industry and Trade, in collaboration with agencies and relevant locals shall check and supervise the implementation of E5 petrol trading according to the schedule approved by the Prime Minister; evaluating the production and marketing of E5, after that proposing incentive mechanisms to the Prime Minister in the first quarter of 2015.
According to Decision No. 53/2012/QD-TTg providing guidelines for scheduled ratios of biofuel blended with traditional fuels, from December 1st 2014, E5 bio-fuel will be available for motorway vehicles in seven cities: Hanoi, Ho Chi Minh City, Hai Phong, Da Nang, Can Tho, Quang Ngai and Ba Ria-Vung Tau and will officially be used across the country from December 1st 2015.
By Quang Minh