Transfer of capital if the plan is not fully disbursed

There are 23 central ministries, branches and 1 locality disbursed less than 10%. Picture: ST.

37/56 units have lower disbursements than average

According to the Ministry of Finance, in the amount of disbursements above, the domestic capital was over 87.181 billion VND, reaching 25.66% of the plan allocated by the National Assembly; Government Bonds (VGBs) was more than 5.285 billion VND, reaching 10.57% of the plan assigned by the National Assembly; capital in the national target program was more than 928 billion VND; foreign capital was over 6,927 billion VND, reaching 11.55% of the plan assigned by the National Assembly.

The Ministry of Finance said that the disbursed amount of central and local ministries, branches over the last few months has seen positive changes compared to the first months and reached approximately the disbursement rate of the same period in 2017. In which, the domestic capital had a high disbursement rate of around 2% compared to the same period in 2017.

There are 8 central and local ministries, and 12 localities with high disbursement rate of over 40% of the plan such as the Ministry of Public Security, the Ministry of Labor - Invalids and Socials Affairs… There are 4 ministries, branches and 2 localities that had a disbursement rate of over 50% of the plan.

The Ministry of Finance explained that: Positive results of disbursement in May 2018 come from the close and drastic direction of the Government and other ministries, branches, localities. Besides, with the role in supervision of disbursement of public investment plans, the Ministry of Finance has also implemented a number of specific measures to promote disbursement speed.

However, there are many central ministries, branches and localities with low disbursements. It can be mentioned that 37/56 central ministries, branches and 21/63 localities have the disbursement rates in 2018 that are lower than the national average. Statistics show that there are still 23 central ministries, branches and 1 locality that have a disbursement rate below 10%. In which, the Vietnam Cooperative Alliance (1.61%), the Ministry of Planning and Investment (1.46%), the Ministry of Health (3.47%), Cao Bang (8.22%), In particular, Tobacco Corporation has not disbursed yet. These are the ministries, branches, localities and state corporations that have not disbursed or nearly not disbursed in the last months. In the past month, there has been a slight increase.

In addition, many central ministries, branches and localities have not seriously followed regulations on reporting (not sending reports or reporting only data, without evaluation), causing difficulties for the Ministry of Finance in summarizing, dealing with problems and recommendations to speed up the implementation.

Take initiative in transferring capital plan

About the reasons, during the review process the Ministry of Finance found that the disbursement of capital by ministries, branches and localities was low due to some difficulties and obstacles such as: Some projects disbursed completely in 2017, but still being allocated capital plan in 2018; a number of mixed projects, including allocation and re-loan, have not been disbursed due to difficulties in the implementation of the contract on re-lending... Besides several projects, such as the Sustainable Urban Transport for the HCMC Metro Line 2 Project, are affected by another project that is being submitted to the National Assembly to increase the total investment. Some projects are in the final payment process, so the disbursement progress is uneven…

For government bond capital in 2018, the government bonds funds will be allocated to ministries and sectors of new projects, and after the capital plan is assigned, new investors will start making procedures for site clearance and organization of bidding, so there has not been the volume of acceptance and payment…

According to Mai Thi Thuy Duong, deputy director of the Investment Department, Ministry of Finance, facing with the slow disbursement of the 4 months, the Ministry of Finance has proposed the Prime Minister to assign the Ministry of Planning and Investment to report to the Prime Minister on the delayed allocation of capital plans of ministries, branches and localities. At the same time, assume to recover the central budgets for the 2018 capital plan until March 31, 2018, that ministries, branches and localities have not yet made detailed allocations to the projects. Also, submitting a plan of transferring capital to the project is in need. This has contributed to promote the progress in May.

In order to accelerate the disbursement of 2018, according to the leader of the Investment Department, the Ministry of Finance will propose to the Prime Minister to continue directing ministries and branches to regularly direct the specialized agencies and investors in reviewing and evaluating the disbursement of projects without demand and ability to disburse annual capital plan due to difficulties, obstacles in investment procedures and site clearance... On that basis, the ministries, branches and localities will take initiative in transferring or proposing the competent authorities to transfer the capital plans to other projects on the list of medium-term public investment plans that are in need or in progress of good disbursement. In cases where it is not possible to disburse all capital plans, they must report them promptly to competent authorities so as to have plans on transferring them to other central ministries and localities in need.

At the same time, the Ministry of Finance has asked the Government to direct the heads of ministries and central agencies with low disbursement rates to report directly to the Prime Minister on the reasons for the slow disbursement of capital plan; propose solutions and recommendations; at the same time, have commitments on disbursement of the capital plan.