Principles for the Use of Financial Resources for State-Funded Irrigation Projects

Duy Thinh

20:50, 11/07/2024

The Ministry of Finance has just issued Circular 73/2018/TT-BTC guiding the use of financial resources in the management and exploitation of irrigation works using State capital.

The utilization of financial resources in irrigation works funded by state capital must ensure the following principles:

- Ensure to fully perform the tasks stipulated in Clause 1, Article 38 of the Irrigation Law;- Clearly delineate infrastructure assets of irrigation and works formed from state budget investment;- Utilize for the right purposes, in accordance with policies, regulations, and ensure full and valid documentation;- Ensure compliance with specialized legal statutes on the organization, management, and operation of irrigation works;- Major repair expenses can only be used for repair and upgrade of irrigation works, they cannot be used for other purposes or converted into profits for the irrigation works operating unit;- Depreciation of fixed assets of the irrigation works operating unit is carried out according to the regulations in Circular 45/2013/TT-BTC, Circular 147/2016/TT-BTC, and Circular 28/2017/TT-BTC.

Circular 73/2018/TT-BTC is effective from October 1, 2018.

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