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Fuel subsidies to be lifted, awaiting official announcement
December 20, 2015, 9:57 am

Well-informed sources have revealed that a decision has been taken to lift fuel subsidies and introduce new water and electricity consumption prices, and is pending an official announcement. The sources also mentioned that the government is encouraging the Ministry of Commerce and Industry to consider an effective implementation tool to monitor the prices and avoid unwanted inflation once the new prices are put into effect to avoid consequences, particularly those that occurred after diesel subsidies were lifted.

The sources highlighted that the government was keen for the commerce ministry and other departments to find clear methods to monitor and enforce accountability to thwart unfair price increases at various retail outlets, restaurants and construction material stores.

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