Thursday, October 19 2017

VietNamNews

City seeks bigger revenue share

Update: February, 22/2017 - 11:28
A view of HCM City. HCM City continues to seek permission from the National Assembly Standing Committee to retain a bigger share of its revenues and pile up more debts. — Photo tuoitre.vn

HCM CITY – HCM City continues to seek permission from the National Assembly Standing Committee to retain a bigger share of its revenues and pile up more debts.

Speaking at a meeting with the committee on Monday, the chairman of the city People’s Committee, Nguyễn Thành Phong, complained that a recent Government draft decree on financing-budget policies for HCM City has not gone far enough with respect to the city’s long-standing demands.

“The Government should allow HCM City a special mechanism to collect revenues befitting a mega city, such as tariffs on certain industries and services,” Tuổi Trẻ (Youth) newspaper quoted him as saying.

City Party Secretary Đinh La Thăng said, “The Government should allow HCM City the highest level of autonomy for us to collect more revenues and contribute more to the nation.”

He sought permission to increase the city’s debt from the current 60 per cent of its revenues to 90 per cent, but deputy chairman of the National Assembly, Phùng Quốc Hiển, agreed to increase it to 70 per cent.

The figure however has to be ratified by the committee.

Hiển said, “HCM City’s demand to collect more tariffs will be considered by the Government and submitted to the National Assembly.”

National Assembly Chairwoman Nguyễn Thị Kim Ngân admitted that HCM City is the country’s leading economic hub and needs to keep a greater share of its revenues.

Lê Thị Nga, chairwoman of the National Assembly’s Justice Committee, said under the law the Government can allow HCM City a special financial mechanism in proportion with its potential.

Nguyễn Đức Hải, chairman of the National Assembly’s Budget and Finance Committee, concurred with HCM City about its need for greater financial autonomy.

“The city should have more autonomy in choosing and paying its staff.”

Nguyễn Thị Quyết Tâm, chairwoman of the city People’s Council, urged the Standing Committee to work out a resolution to give the city greater financial autonomy and submit to the National Assembly. — VNS

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