Party fires top official

August 09,kqbd dusseldorf 2017 - 10:05

The Party’s Central Committee yesterday recommended firing Deputy Minister of Industry and Trade Hồ Thị Kim Thoa and decided to strip her of her role as a Party representative for various violations when she served as head of the Điện Quang Lamp Joint Stock Company.

The Party’s Central Committee yesterday recommended firing Deputy Minister of Industry and Trade Hồ Thị Kim Thoa. — VNA/VNS Photo

HÀ NỘI — The Party’s Central Committee yesterday recommended firing Deputy Minister of Industry and Trade Hồ Thị Kim Thoa and decided to strip her of her role as a Party representative for various violations when she served as head of the Điện Quang Lamp Joint Stock Company.

The decision was adopted at a meeting of the Central Committee Secretariat, chaired by Party General Secretary Nguyễn Phú Trọng, based on a proposal of the Party Central Committee’s Inspection Commission. The commission issued a warning against Thoa over “serious violations” and proposed she be stripped of all her positions.

Thoa served as Secretary of the Party Committee and Director of the formerly State-owned Điện Quang Lamp Company, and then as Secretary of the Party Committee, Chairwoman of the Board of Directors and General Director of the Điện Quang Lamp Joint Stock Company, from January 2004 to May 2010. She is accused of violating regulations and procedures on business equitisation, and wrongly handling loan interest worth VNĐ6.7 billion (US$298,000) exempted by banks.

She also allegedly infringed State regulations on land management when the company signed a contract with another company to invest in a plot at No 12 Tôn Đản Street in HCM City. She also failed to properly handle the VNĐ30 billion ($1.3 million) collected from the transfer of the land use rights. Thoa is also alleged to have bought more shares than the permissible level and her transfer of shares also violated the company’s regulations. — VNS