VietNamNet Bridge – A string of new policies on electricity retail prices, early termination of financial contracts, preferential loans for detoxified drug abusers and ceiling prices for milk products will take force in June 2014.

Electricity retail prices

Under Decision 28/2014/QD-TTg, dated June 1, 2014 guiding the implementation of new electricity retail prices, the prices are divided into six levels with a view to encouraging energy saving and efficiency.

Accordingly, percentages of retail prices foe commercial electricity are based on an average retail price of electricity: from 0-50 kWh is 92%; from 51-100 kWh is 95%; from 101-200 kWh is 110%; from 201-300 kWh is 138%; 301 – 400kWh is 154% and 159% above 401 kWh.

Retail prices for the range of 0-50 kWh is equivalent to the average electricity price that only applies to low-income households; from 0-100 kWh is 100% the average retail price of electricity; from 101-150 kWh is 106%; from 151-200 kWh is 134%; from 201-300 kWh is 145%.

The retail price of industrial electricity is down 5% from current levels at normal hours, down 3% for peak hours and 8% for the peak voltage of 6-22 kV to 9% at peak hours for less than 6 kV voltage level.

Early termination of financial contracts

According to Decree 39/2014/ND-CP, dated May 7, 2014, financial contracts will be early terminated in the five following cases: (1) The lessee does not pay rental or breaches conditions under the Contract; (2) The lessee is declared bankrupt or dissolves; (3) The lessor breaches conditions outlined under the Contract; (4) The leased assets are lost or damaged and cannot be restored or repaired;  and (5) The lessee pays rental for the remaining term under the Contract.

The decree will come into force on June 25, 2015.

Preferential loans for rehabilitated drug abusers  

Under the PM’s Decision 29/2014/QD-TTg, households and HIV-infected people, post-detoxification drug addicts, persons undergoing opioid replacement therapy and reformed prostitutes will be able to access preferential loans.

These people may get a maximum loan of VND 20 million per individual and VND 30 million per household with no collateral.

The maximum loan period is 60 months. During the experimental period from 2014 to 2016, the maximum loan period is 36 months.  

The Decision will take force on June 15, 2014.

Preferential loans for scientific and technological researches

According to Decree 23/2014/ND-CP on the organization and operation regulations of National Science and Technology Development Fund, the Fund provides non-refundable aid for the application of scientific researches and technology development.

The Fund also targets to improve national scientific and technological competence through participating international seminars; financing post-doctoral research; and providing short-term researches.

In addition, the Fund offers loans with non-interest rate or low interest rates for scientific research and technological development in production and life.

The Decree took effect since June 1, 2014.

Milk price ceilings

Decision 1079/QD-BTC of the Ministry of Finance took effect since June 1, 2014.

The Decision imposes price ceilings on 25 powdered milk products for children under six years old.

VGP/VNN