Hanoi (VNA) – Dinh La Thang, a Politburo member and Secretary of the Ho ChiMinh City Party Committee, has received an official warning and has no longerbeen part of the Politburo of the Party Central Committee for his pastfinancial wrongdoings as head of the National Oil and Gas Group (PetroVietnam).

The disciplinary measures against Thang were announced at the third working dayof the 12th Party Central Committee’s fifth session on May 7 underthe chair of Party General Secretary Nguyen Phu Trong.

TheCentral Committee reviewed a Politburo report on the punishment to be meted outto Thang, which was presented by Tran Quoc Vuong, a Politburo member, Secretaryof the Party Central Committee and Chairman of the Party Central Committee’sInspection Commission.

TheCommittee concluded that despite 35 years of working and contributing toPetroVietnam, as well as his service rendered in other posts, Thang had stillcommitted “very serious wrongdoings and violations in management” as a memberof the 10th Central Committee of the Communist Party of Vietnam,Secretary of the Party Committee and Chairman of the Board of PetroVietnam from2009-2011.

Itsaid the wrongdoings and violations have hurt the reputation of Partyorganisations that he was a member of, his personal reputation and caused aloss of confidence among the people and other Party members. These factors haveinfluenced the decision on his punishment, the committee added.

Upto 90 percent of the meeting’s participants voted yes on the punitive measuresproposed for Thang.

Thang,57, took up his current post as Secretary of the HCM City Party Committee inFebruary last year. He is a member of the 10th, 11th and 12th Central Committeeof the CPV and was a member of the 19-member 12th Politburo of the CPV. He wasalso a member of the 11th and 13th National Assembly of Vietnam.

Beforebecoming the Minister of Transport in August 2011, he was Chairman ofPetroVietnam, Deputy Party Secretary for Thua Thien-Hue province (2003-2005)and Chairman of Song Da Corporation (2001-2003).

Atits 14th meeting from April 24-26, the Party Central Committee’s InspectionCommission decided to consider disciplinary action against seven former top executivesof PetroVietnam, including Dinh La Thang.

TheCommission found that the group’s Party Committee Standing Board had beennegligent in advising the PetroVietnam Party Committee on a 2009 resolutionthat approved illegal contract packages, and a 2011 resolution on investing inOceanBank, contrary to the Law on Credit Institutions, which resulted in a lossof 900 billion VND (39.59 million USD), including 800 billion USD (35.19million USD) for OceanBank.

TheCommission asked the Party Committee of the Central Business Bloc to take quickdisciplinary action against the PetroVietnam Party Committee’s Standing Board.

Itfound that Thang bore prime responsibility for resolutions and wrongdoings bythe Party Committee Standing Board and the Member Council of PetroVietnam in2009-2011.

Hewas found to have violated regulations of the group’s Board of Directors bysigning an agreement on contributing 20 percent and more of OceanBank’s capitalbefore getting approval for the move from the Board of Directors.

Thangwas also held responsible for the Member Council’s resolutions authorisingbidding packages in violation of Government decrees and advising the PrimeMinister to approve many bidding packages that failed to meet legalregulations.

Hewas also found responsible for violations of the Law on Bidding related to theengineering, procurement and construction contract for Dung Quat Biofuel Plant,as well as low investment efficiency in a number of projects, including theDinh Vu Polyester manufacturing plant and several bio-energy projects.-VNA