Prime Minister Pham Minh Chinh on March 10 called for diversification of oil supply ources in a bid to ensure national energy security in the face of increasing tensions in the Middle East.
He made the request while chairing a meeting with the Government's Working Group established recently to ensure energy security, and relevant ministries and agencies, to discuss measures to ensure proactive energy supply for socio-economic development, particularly in pursuit of double-digit growth targets amid the impact of Middle East tensions on global energy supply chains.
He urged ministries and relevant agencies to maintain close coordination in regulating petrol prices in accordance with existing rules, closely tracking global price movements in order to take timely, flexible and effective adjustment measures.
PM Chinh tasked the Ministry of Finance to coordinate closely with the Ministry of Industry and Trade in monitoring daily oil and petrol price hikes, and proactively adopting measures to address hoarding and price gouging.
The Ministry of Finance was requested to promptly propose a plan to reduce the environmental protection tax on petroleum products to zero percent and report it to the Government on March 12.
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