A passenger walks in a coach station. The Ministry of Finance has urged authorities to tighten the management of road transport fees. — Photo laodong.com.vn

HA NOI (Biz Hub)  The Ministry of Finance (MoF) on January 21 urged authorities to tighten the management of road transport fares, after the domestic petrol prices were reduced on the same day.

In dispatches sent to the Transport Ministry and people's committees of provinces and cities under the central government, the MoF said that some transporters had not yet registered fare cuts, although they had been asked to do so following the fuel price reductions late last year.

It asked these authorities to direct local transport and finance departments, as well as tax agencies, to strengthen supervision and punish enterprises that do not comply with the order.

The violators will be fined amounts between VND20 million and VND30 million (US$952 and $1,428), and it will be suggested that their names be mentioned by the media.

The MoF said in a report late last week that taxi firms had slashed fares by 0.92 to 26.32 per cent and transporters of passengers on fixed routes had reduced fares by 3 to 21.7 per cent, since the order on reducing transport fares was issued.

The petrol prices were lowered on January 21 for the second time of this year, after the ministries of Finance and Industry and Trade asked dealers to slash prices by up to 9 US cents per litre.

The government has asked the ministries to take timely measures regarding retail fuel prices, as the prices of crude oil and petro-products in the global market continue to decline.  VNS