“As the petrol price has returned to the level of four months ago, the transport fee will also return to the level of four months ago,” said Nguyen Manh Hung, Chairman of the Vietnam Automobile Transport, right after the news about the VND 1,000 a litre petrol price decrease was announced on November 8.
Hung said that the petrol price, after five decreases, has returned to the level seen before the sharp increase of VND 4,500 a litre on July 21, 2008.
“The association has suggested its members to slash the transport fee after the petrol price was slashed for the fourth time several days ago. Transport firms have no reason to delay the fee decrease plans any further after the fifth petrol price cut,” Hung said.
After the fourth petrol price cut, some transport firms announced they would slash fees.
By the end of November, many of the southern transport firms announced they would reduce their coach tickets by VND 5,000 to VND 20,000 for the routes from HCM City to Vung Tau, Nha Trang, Da Lat, Buon Ma Thuot and Ca Mau.
“Other transport firms will have to follow the move to cut fees, or they will lose passengers. I believe that the transport fee will return to the level prior to July 21,” Hung said. He added that it will take seven to ten days for the firms to calculate the expenses, adjust the transport fee, and fulfill the procedures for the fee cuts.
In the north, big transport firms including Mai Linh, Hung Thanh, Hoang Long and Tan Dat, told VietNamNet that their boards of directors will gather on Monday, November 10, to discuss the fee policies.
“We still cannot say anything about the fee decreases, but we can say we will reduce fees,” they said. Regarding the fee decreases, Hung said that those firms, who have raised the fee by 15% after July 21, should lower the fee to the level before July 21.
However, Hung complained that the bank interest rates remain overly high for businesses. 70% of transport firms still have to borrow at the commercial interest rates of 18% per annum, which makes the production cost high. He said that if banks keep the interest rates at the current levels, the transport fees, which are expected to decrease in ten days, will only exist within two months. Transport firms will have to raise the fees again in early 2009.
As of January 1, 2009, the labourers’ wages will increase, while the VAT will also increase by 5%. (VNN)
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