The CIRCULAR stipulated the management mechanism, use of foreign currency from the export of crude oil by Vietsovpetro exploited XNLD in 1991 _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ To ensure uniform management and effective use of foreign sources of crude oil by Vietsovpetro exploited XNLD in 1991 to PETECHIM export, Ministry of finance regulations as follows : I/GENERAL RULES: 1/State assigned the petroleum IMPORT-EXPORT firm PETECHIM exports the entire crude oil output by Vietsovpetro exploited XNLD. The firm PETECHIM is responsible for exploiting the market, buying objects and apply the most lucrative export method to ensure the highest foreign currency earner for the State.
PETECHIM company signed a contract with economic XNLD Vietsovpetro on "delivery of crude oil" to export.
2/all of the foreign exchange earned by the export of crude oil is the income of the State. The use of foreign currency by the Minister of finance directly to the target has been included in the State plan.
Unit 3, use of foreign currency by exporting crude oil to import oil products are made according to the principle of the State's foreign currency purchase.
II/SPECIFIC PROVISIONS: 1/Exchange obtained by the crude oil export will be a temporary state sent into foreign currency account of the foreign trade Bank opened at PETECHIM Vietnam. The whole of the interest rates in foreign currencies arising in this account were the company to fund foreign currency lodging PETECHIM State.
The firm PETECHIM only used foreign currency on the account number listed above when order of the Minister of finance.
2/in principle, on the basis of 100% of the value of the oil after the batch has obtained money (minus fees) the firm PETECHIM is responsible to extract tax revenue tax and the export of XK by law; crude oil exports rose for the rest will PETECHIM prorated 50/50. In it, 50% of priority to supplies of imported petroleum products according to the plans of the State and is divided into 2 equal parts for PETTOLIMEX and PETECHIM, 50% rest is foreign currency resources transferred for Vietsovpetro XNLD and use according to the order of the Ministry of finance.
However, in each specific case if there are obstacles PETECHIM will report to the Ministry of Finance has decided opinions.
3/the transfer of Exchange XNLD Vietsovpetro will be implemented according to each order PETECHIM of Finance Ministry and based on actual needs used to ensure production planning of XNLD Vietsovpetro.
VN Dong moved to XNLD conversion calculator out pharmaceutical Vietsovpetro us dollars according to the exchange rate on the purchase of the Bank for foreign trade of Vung Tau at the time the bank account of the debt quote PETECHIM part hold the State budget.
The total amount of foreign exchange transfer and ĐVN for XNLD no Vietsopetro exceeds the financial plan to be the Ministry of Finance stated in the annual budget plan.
4/the unit PETROLIMEX and currency use from source PETECHIM crude oil to import oil products made the principle of buying and selling foreign currencies, in particular: a. each need of foreign currency to pay to import gasoline, imported units to transfer cash to the State Treasury or into account money keep households budget due at the Bank opening VN PETECHIM. The amount of foreign currency that grantees will calculate the selling rate at the time of the Bank for foreign trade of VIETNAM Dong debt quote for PETECHIM and PETROLIMEX.
b. case, if the unit comes on with no money and no VN Dong to be the Bank to buy foreign currency, if necessary Exchange to timely payment of money to purchase oil products, applicable foreign currency advance mode and receive the debt in foreign currency number equivalent to PH were used according to bank rates sold out at the time of use of Exchange and interest rates under the provisions of the Bank as loan regime for import and export units.
The unit must pay with a budget within a period not exceeding 45 days of use ngoaị and get the debt ĐVN.
c. in case the unit filed State budget VND VIETNAM but no source of Exchange from crude oil to use, the units will receive foreign currency when crude oil money obtained by selling off bank rate at the time of submission of cash for the budget.
5/in the case, if the units and selling oil PETROLIMEX PETECHIM imports by source foreign currency from the export of crude oil gained exchange of domestic units, the units are sold in foreign currencies for the Ministry of finance to supplement the source of foreign currency to import oil products for the State plan.
6/monthly, quarterly, the company must report to the Ministry PETECHIM financial, The entire business data on the amount of crude oil got from XNLD to export the Vietsovpetro, of foreign exchange earnings, and stars send heavy industry Ministry said.
Private currency numbers used and the object will use detailed reports to the Ministry of finance.
In the process of implementing this circular has arisen, which reflects relevant to the Finance Ministry to consider and resolve.