(Quang Ngai Newspaper) – After 4 months of monitoring budget revenues, the Provincial People’s Committee has identified difficulties in collection and promptly applied the corresponding budget spending reduction scenario. In particular, the province pays special attention to adjusting public investment capital corresponding to reduced revenue, avoiding a revenue-expenditure imbalance.
Some projects have not started yet
In 2024, the province’s total public investment capital is about 6,300 billion VND; Of which, capital from land use fees is 2,496 billion VND, accounting for nearly 40%. However, this revenue source is currently not reaching the set target, due to the real estate market facing many difficulties, affecting the auction of land use rights and bidding for land plots to collect budget revenue. The Department of Natural Resources and Environment forecasts that the feasible revenue from land use in 2024 will only reach about 248 billion VND, equal to 9.54% of the central estimate assigned (2,600 billion VND) and 6.3% of the plan. proposed by the province (3,879 billion VND). Therefore, the Department of Finance advised the Provincial People’s Committee to reduce public investment expenditure corresponding to the forecast revenue shortfall. Accordingly, the province will cut or not allocate capital for projects invested from land use fees.
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| Complete construction of items within the Provincial Convention and Exhibition Center campus. Photo: T.NHI |
Implementing the direction of the Provincial People’s Committee, currently, departments, branches and investors of public investment projects with capital from land use fees are focusing on reviewing and implementing cost reductions. The viewpoint is to create conditions to speed up the progress of projects that have started construction, have a prescribed volume and time to be completed in 2024, to put the works into use as planned. As for projects that have not yet started construction, they must be temporarily suspended to avoid cases where the project starts construction but has no capital and is unfinished. Currently, there are a number of projects planned to start construction in 2024 by the People’s Committees of Ba To and Minh Long districts, the Provincial Transport Construction Investment Project Management Board, the Dung Quat Economic Zone Management Board and Provincial industrial parks as investors with capital from land use fees have determined not to start construction. For example: Ba Trang road project to Cay Muoi village (90 billion VND), Phuoc Giang river embankment (80 billion VND); a number of water reservoir projects, traffic infrastructure investment projects inside and outside Dung Quat Economic Zone…
Concentrate resources on urgent projects
Facing the forecast of a decline in budget revenue due to reduced land use fees and from Dung Quat Oil Refinery (temporarily suspending production for the 5th general maintenance), the Departments of Planning, Investment and Finance are advising the Provincial People’s Committee to regulate the situation. Appropriate public investment spending. The proposed plan is to ensure balance between revenue and expenditure; cutting unnecessary and unsourced project expenditures; At the same time, focus capital on important and urgent projects that serve people’s lives. Among them, there are 2 new projects that will be prioritized for implementation and capital allocation to start construction: the Thach Bich Park project (Quang Ngai City) and the City’s Rainwater and Wastewater Collection and Treatment System project. .Quang Ngai basin south of Tra Khuc river downstream.
For transitional projects, the province has determined to prioritize allocating enough capital to ensure completion in 2024 for projects, including: Provincial Center for Disease Control, Provincial Convention and Exhibition Center, Project Investment project to build anti-landslide embankments combined with creating a land fund on the north bank of Tra Khuc river, section through Tinh An and Tinh Long communes (Quang Ngai city). At the same time, allocate capital according to progress for large projects that are set to be completed, inaugurated, and installed with welcome signs for the 21st Provincial Party Congress such as: Hoang Sa – Doc Soi Road Project , Bridge and road project connecting Son Tinh district center to Tu Nghia district (Tra Khuc 3 bridge)… In addition, attention will be paid to allocating the province’s capital to projects owned by the district People’s Committee. Investing with the goal of striving to reach the finish line to install signs to welcome the district-level Party Congress taking place in early 2025, such as Thanh Duc bridge (Duc Pho town), Thach An bridge (Binh Son), headquarters project Tu Nghia District Party Committee…
THANH NHI
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