Former chairman of the Electricity of Vietnam Group (EVN), Dao Van Hung.

The announcement was made at a meeting held yesterday by MoIT.

Hung was dismissed by the Prime Minister on February 1 for violations that caused serious losses to the group, especially at the Electricity of Vietnam Telecommunications Company (EVN Telecom), one of EVN’s subsidiaries. He was then transferred to the Ministry of Industry and Trade.

According to audit results of EVN, the state-run enterprise suffered a total loss of nearly VND17 trillion in 2011.

A 2010 financial report released by EVN Telecom also showed that the company’s business results over the latest three years had been on the downturn. Its profit of VND 93.8 billion in 2008 had decreased to VND8.3 billion in 2009 and it lost over VND1 billion in 2010.

The State Auddit Office has found out that many of EVN Telecom’s losses from non-core investment have been transferred to electricity production and trade.

To solve the issue, the Ptime Minister decided to transfer EVN Telecom to Viettel Telecom.

At meeting, Deputy Prime Minister Nguyen Nam Hai said that Hung was reviewing his work at EVN Telecom and EVN and that a report could be expected to be submitted to the MoIT. Based on the report, the minister will assign Hung’s next position.

The deputy PM also confirmed that EVN’s general director, Pham Le Thanh, who is now the acting chairman of EVN, is holding a temporary position, waiting for the decision to choose a permanent chairman.

Meanwhile, MoIT’s office said that the first results of the financial inspection on EVN’s salary will be announced at the coming meeting between its minister and the minister of Labour, Invalids and Social Affairs.