Prime Minister Hun Manet said the government has spent more than $600 million to contain rising fuel prices through tax and duty exemptions for fuel-importing companies, preventing diesel prices from increasing by an additional 900 riel per litre and petrol by 600 riel per litre.
Mr Hun Manet made the remarks during the distribution of rice seeds and food supplies to residents affected by flash floods in Pursat province on November 5.
He said:
“Regarding the global situation, particularly following yesterday’s elections in the United States, the main concern is not the conflict with Iran itself, but rather its impact on oil prices and related issues in the US.
For our part, we have made significant efforts, spending more than $600 million to curb rising fuel prices to date. Although prices have indeed increased, they would have risen even further had we not intervened by reducing or waiving taxes and duties for fuel-importing companies.
Our calculations show that, without this assistance, particularly the tax and duty exemptions granted to oil companies, the price of diesel would be 900 riel per litre higher than it is currently, while the price of petrol would be another 600 riel per litre higher.
The situation is already difficult enough. Imagine how much worse it would be had we not taken these measures to prevent further price increases. Therefore, this assistance demonstrates our commitment to addressing these challenges.
Regarding the various pressures, millions of citizens facing such hardships have already received the cash assistance.”
- Tags: Cambodia, Hun Manet
