The Party Central Inspection Committee said in a statement Monday that Vu Van Ninh, 64, who served as deputy Prime Minister between 2011 and 2016, committed violations in approving equitization of and state capital divestment from some state-owned enterprises (SOEs) under the Ministry of Transport's management.

The committee also said Ninh had shown irresponsibility in leading, managing, inspecting and supervising, resulting in huge losses of state assets during the period he held positions as Secretary of the Ministry of Finance's Party Commission, Minister of Finance and the Vietnam Social Insurance's board chairman.

His violations were serious, badly affecting the reputation of the Communist Party, and deserving due punishment, the committee said.

At a meeting last April, the inspection committee concluded that the Ministry of Transport's Party Commission had violated the democratic centralism principle and working regulations, and had shown irresponsibility in leading, managing, inspecting and supervising that resulted in serious violations in the equitization of and divestment from several SOEs.