(VOVWORLD) -The government has proposed cutting the environmental protection tax on petrol in an attempt to stabilize the petrol market and rein in inflation.
 Petrolimex petrol and oil retail station. Photo: Tran Viet/VNA
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Under the Ministry of Finance’s proposal, such tax would be down by 2,000 VND per liter on petrol, 1,000 VND per litter on diesel, and 700 VND per litter on kerosene.
The policy, if approved, would come into force from April 1 till December 31, 2022.
The proposal was submitted to the National Assembly Standing Committee for consideration and approval on Monday.
Late last week, the government raised retail petrol prices to hit all-time high of 30,000 VND per litter on the global oil market fluctuations.