Poorly performing extra-budget funds will be suspended from operation or dissolved.
This is required by the Prime Minister in Directive No. 22/CT-TTg dated August 27 on enhanced management of extra-budget financial funds.
Funds which fail to comply with their objectives or have accomplished their targets will also be asked to terminate their operation or dissolve.
Funds, especially for-profit investment funds, which have their objectives, functions and tasks similar to those of others, will be transformed so as to increase their operational efficiency.
Meanwhile, effectively operating funds will be maintained in order to attain economic development objectives, settle social issues, and protect lawful rights and interests of the poor and disadvantaged groups in the society.
Poorly performing extra-budget funds will be suspended from operation or dissolved__Photo: thanhnien.com.vn
To this end, the Prime Minister asks ministries, sectors and local administrations to review current regulations on the establishment, operation and management of extra-budget funds.
The cabinet head also requests stricter supervision, inspection and examination of operation of, and law observance by, extra-budget funds, thus ensuring effective, public and transparent management and use of state financial sources.- (VLLF)