(HBO) – Under the direction of the Prime Minister and the Chairman of the provincial People's Committee, the province should disburse at least 60 percent of the allocated public investment capital by September 30. However, the goal seems to be impossible to reach as the disbursement rate only reached 29 percent of the plan as of August 15.

 Construction on Hoa Binh 2 bridge project (Hoa Binh city) is being accelerated to ensure that it will be put into trial operation on schedule.

This year, the province is allocated 3.7 trillion VND (166 million USD) of investment capital from the State budget. Meanwhile, capital in the investment plan that has been approved by the provincial People's Council totals over 4 trillion VND.

Up to now, some projects have disbursed over 60 percent of the planned target. However, many others recorded low disbursement rates, with some even not disbursing any capital at all.

Delivering a report at the meeting of the provincial People's Committee, Nguyen Van Thang, Director of the Department of Planning and Investment (DPI) said: "Currently, there is still over 720 billion VND of capital yet to be allocated to new construction projects.” However, he said, from August 15 to September 8, an additional 321 billion VND was disbursed, raising the disbursement rate to 37 percent.

The biggest difficulty in raising the disbursement rate, is related to Official Development Assistance (ODA) capital in Hoa Binh city in the northern mountainous urban programme and the capital for the Da river bed project in 2016-2020 extension period, Thang said.

To speed up the disbursement of public investment capital, Quach Tat Liem, Vice Chairman of the provincial People's Committee said projects management boards needed to organise weekly meetings with the construction sides to speed up the progress of the projects, especially for those with large capital allocation but suffering low disbursement rate. In addition, the capital plan for the projects should be adjusted to ensure effective payment.

The biggest cause of concern is the slowness in allocating capital to projects while there are only more than three months left until the end of the year. Therefore, he said, it is essential for the DPI to have specific solutions for each project before allocating capital, otherwise, disbursement would be impossible.

The provincial Party Committee has directed each department, agency and locality to have detailed plans to speed up the disbursement of public investment funds, ensuring that the disbursement rate will reach over 60 percent by September 30, fulfilling the set target for this year.

He said that drastic measures should be adopted and heads of units should bear the responsibility if they fail to meet 2021 public investment capital./.

 

 


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