Wednesday , June 7 2023

Planning ministry dismisses demands for minimum commissions for fuel retailers

The Ministry of Planning and Investment has brushed off demands for fixing minimum commissions for fuel retailers as it sees this as interference with the market.

Many retailers had demanded that the government should fix a minimum commission of 5-6% of retail price of petroleum products so that they do not have to sell at a loss, but the ministry opposed this when recently asked for its opinion on a bill on fuel management of the Ministry of Industry and Trade.

It said the current system, in which retailers and suppliers negotiate the commissions, ensures all parties’ benefits are safeguarded and reduces government intervention in business activities.

Earlier the Ministry of Finance, the Kien Giang Province government and of the Vietnam Federation of Commerce and Industry had all called for having minimum commissions.

Not having them was why many retailers sold limited quantities or even shut shop at the end of last year and early this year, they said.

The planning ministry rejected the argument saying all retailers’ expenses need to be recalculated and factored into retail prices.

It also rejected the Ministry of Industry and Trade’s suggestion to limit each distributor to buying from only three suppliers.

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