Government announces cancellation of monopoly on three petroleum commodities - Rawan For Media Artistic and Production
He
said that the government would allow the private sector to use all the
means of payment without value transferring providing for commitment to
the specifications, rules of safety and security measures.
The
minister explained, in the expanded meeting at the ministry premises
Tuesday with the participation of the Ministry of Oil, companies working
in the field of petroleum products and the private sector, that the
main objective for lifting the monopoly is to ensure availability of
consumer needs and the productive sectors and unleash the potentials of
the private sector to enable it to provide and distribute goods without
any restrictions.
He
said that the government lifting to concession came at the right time
as world petroleum prices are dropping in an unprecedented way and is
expected to further decline, pointing out that the decision of
determining the gas prices issued yesterday came within the prices
liberalization policy to correct the path by removing price distortions
to ensure availability and distribution of the commodity through the
private sector and the government is to be committed to the price
concentration and to control its sustainability at the required
quantities.
The
Minister of Finance and Economic Planning, Badr-Eddin Mahmoud,
announced that the government has cancelled the monopoly on three
petroleum commodities, which are furness, jet aircraft and gas, and to
allow the private sector to import and distribute the three commodities
through abolition of all administrative restrictions, fees and taxes.
Minister of Finance and Economic Planning, Badr-Eddin Mahmoud,
announced that the government has cancelled the monopoly on three
petroleum commodities, which are furness, jet aircraft and gas, and to
allow the private sector to import and distribute the three commodities
through abolition of all administrative restrictions, fees and taxes.
He
said that the government would allow the private sector to use all the
means of payment without value transferring providing for commitment to
the specifications, rules of safety and security measures.
The
minister explained, in the expanded meeting at the ministry premises
Tuesday with the participation of the Ministry of Oil, companies working
in the field of petroleum products and the private sector, that the
main objective for lifting the monopoly is to ensure availability of
consumer needs and the productive sectors and unleash the potentials of
the private sector to enable it to provide and distribute goods without
any restrictions.
He
said that the government lifting to concession came at the right time
as world petroleum prices are dropping in an unprecedented way and is
expected to further decline, pointing out that the decision of
determining the gas prices issued yesterday came within the prices
liberalization policy to correct the path by removing price distortions
to ensure availability and distribution of the commodity through the
private sector and the government is to be committed to the price
concentration and to control its sustainability at the required
quantities.
By : Suna
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