State-owned monopolies ordered to disclose financial data

Thanh Nien News

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A new order from the Ministry of Trade and Industry will require state-own giants Electricity of Vietnam (EVN) and petrol retailer Petrolimex to publish their pricing formulas and operating costs.
The order will include salaries paid to employees and top executives.

The pricing formula, including elements that add to the cost and factors that lead to price increases, must be published in detail along with company audits and business reports.

A monthly report detailing the wages of executives and employees at the two monopolies must be published on the website of the Ministry of Trade and Industry, according to the order.
However, the order did not establish a compliance deadline for either firm.

The instruction was released right after Petrolimex on April 22 increased the price of 92-octane (92 RON) gasoline by 0.85 percent to VND24,900 (US$1.18) per liter stretching prices to their historical high. 

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