Vietnam asks lenders to support fuel traders amid disrupted supply
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
The State Bank of Vietnam (SBV) has called on commercial banks to provide sufficient loans to fuel traders amid volatile global oil prices and disrupted supply, Vietnam News Agency reported.
A number of fuel stations in Vietnam's big cities have been reportedly shut down or on limited sales in recent weeks with traders citing numerous difficulties in securing stock and suffering heavy financial losses since early this year, the news agency said on Friday.
The commercial banks were asked to adopt financial support policies to best support fuel traders in accordance with existing regulations, the news agency said, citing a recent document by the SBV.
The SBV also requested banks to fully meet fuel trading firms' demand for loans to purchase petroleum products to ensure supplies for the domestic market, the document said as quoted by Xinhua news agency report.
