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State inspectors place stimulus package under the microscope
State Inspector Tran Van Truyen spoke about this year’s inspections with Dau Tu (Investment) newspaper.
Your office has uncovered incidents of wrongdoing in the equitisation of enterprises, taxation and accounting, and capital construction projects in the first six months of this year. What were they?
They include violations in tax reductions and exemption and the application of incorrect tax codes which have caused sizeable losses. In accounting, inspectors uncovered revenue and expenditures insufficiently documented and that the practice of thrift was not strict.
As far as construction is concerned, many projects were prolonged and behind schedule. Many mistakes were found in land and compensation claims.
The equitisation of State-owned enterprises has unearthed a number of frauds. Incorrect property valuations have caused losses to the State; shares were sold not in accordance with State regulations, with preferential shares falling into the hands of insiders; and many enterprises have not yet carried out their financial obligations to the State.
Do inspected units dispute these conclusions?
Upon completing inspections, we presented our conclusions and listened to these units explain the discrepancies. Based on these responses, inspectors will bring forward additional evidence to confirm or deny their conclusions. If conclusions have sufficient evidence in accordance with law, inspected units must accept them.
Why have State Inspectors abandoned one inspection and postponed three others at State-owned enterprises?
Due to the economic downturn, the Government asked us to focus our attention on implementation of the economic stimulus package, including preferential lending, disbursement and support for the poor.
Is this your primary focus for the rest of the year?
That’s right. We want to make sure that due attention is given to supervise the stimulus package and make sure the resources are going to the right people and the right purposes.
We have inspected on-going projects from the beginning of this year, and from this point forward we will inspect any unit with signs of violations, especially those that have received substantial funding. This will ensure that the stimulus package is meeting its target while preventing violations.
The stimulus package has only been in place since March, and only 35 per cent of the capital has been disbursed so far. The figure is only 20 per cent if Government bonds and other resources are extracted. The State Inspector will work with the Ministry of Finance and the State Bank of Viet Nam to oversee progress.
VietNamNet, VietNamNews
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