State strained by unnecessary works: ministry

1,154 unnecessary projects have been carried out this year, costing the state over 3.3 trillion dong (US$158.65 million), the Ministry of Planning and Investment said at a recent regular cabinet meeting.
Of these, 183 projects were executed by central government agencies with a total funding of 337 billion dong, and local governments spent VND1.736 trillion to carry out another 638 projects.

The ministry said there were an additional 333 new projects that have been started and cost the state budget a total 344 billion dong.

The ministry thus suggested suspending certain public works that are being carried out by central government agencies to recover VND337.6 billion for the budget.

As for local projects using the state budget funding, the ministry suggested local governments should reconsider them.

For projects funded by government bonds, the ministry recommended the government should recover all of the funding that were disbursed as of January 31, 2011 but are yet to be allocated to any project.

So far this year, the government has been able to save 81.5 trillion dong by suspending certain public works nationwide.

Posted by VBN on Sep 6 2011. Filed under Economy News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry