Business
Finance ministry targets cost cutting on governmental assets
  • By P. Thao | dtinews.vn | March 01, 2013 09:59 AM
The Ministry of Finance has issued guidance on the purchases of public asset for this year insisting that due attention must be paid to saving expenses.

 

 No funding will be able for publically used means of transport out of the initial estimates 

The guidance was issued in accordance with the government’s decree on measures to realise the country’s socioeconomic plans and state budget in 2013.

“No funding will be able for publically used means of transport out of the initial estimates even though the country has reported an increase in state budget revenues,” the ministry affirmed.

As a result, ministries, central agencies, and provincial people’s committees have been told to direct their subordinate agencies to strictly apply measures to save expenses.

Any assets purchased using state funding for the 2013 must be in accordance with approved estimates.

The purchases of public assets must follow current standards and quotas. Bought assets must be included in accounts and be properly used.

Ministers, top leaders of central agencies and provincial people’s committees that decide public asset purchases would be held accountable for their decisions, the ministry said.

The country intends to curb budget overspending at 4.8% of GDP.

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