Violations on causing wastefulness in the use of State funds will be fined up to VNĐ 200 million (US$8,600) under the new decree. — VNA/VNS Illustration photo

HÀ NỘI — Those found wasting State funds now face fines of up to VNĐ200 million (US$8,600).

The new decree on fines for failing to practice thrift in the use of State resources and funds was approved by the Government last week as part of efforts to prevent waste thrift in the use of State assets and resources and national reserves.

Under the decree, individuals found to cause waste in the management and use of public assets and national reserve would be fined between VNĐ50-100 million ($2,150-4,300), with the fines doubled for violating organisations.

Violators found using telephones, electricity, water, gasoline, books, newspapers and stationery products that exceed costs allowed by competent agencies would face fines of between VNĐ1-2 million ($43-86).

Those found to spend excessive public funds on organising conferences, seminars and granting allowances to receive guests and travel abroad would be given the same fines.

Fines of between VNĐ20-30 million ($860-1,290) would be levied on those who spend State funds for wrongful purposes or not in accordance with regulations.

Violations for using excessive amount of State funds for investment capital face fines of VNĐ50-60 million ($2,150-2,580).

The decree also tightens the spending of public assets at State-run one-member limited liability companies.

Companies would face fines of between VNĐ20-30 million ($860-1,290) for forming, managing and using funds for wrong purposes or more than allowed levels.

The fines would double if companies were found to purchase assets and equipment costing higher than allowed levels.

Companies found to spend public funds for improper expenses would face the fines of up to VNĐ100 million ($4,300).

The decree will take effect on September 1.

In February, Prime Minister Nguyễn Xuân Phúc announced a Government programme on practising thrift and preventing wastefulness in 2019. — VNS