Minister of Finance Dr. Ashni Singh today announced a further reduction in
the excise tax rate on gasoline following previous cuts made last year.
««« Minister Singh stated that, with effect from today, the excise tax charged
on gasoline would decrease from fifteen percent (15%) to ten percent (10%).Minister Singh explained
that this decision was taken in light of the upward movement in the
imported cost of gasoline. The acquisition price on the last shipment of
gasoline bought by Guyoil was US$142.85 per barrel which is an increase of
19.7% above the acquisition price of US$119.32 per barrel at the end of last year Requests
««« The reduction of the excise tax rate on gasoline would therefore allow
Guyoil to continue to retail gasoline at $980 per gallon resulting in no
increase in public transportation fares to commuters.
The standard excise tax rate on gasoline and diesel is fifty percent (50%). There
is no excise tax on kerosene.
The Government would continue to closely monitor the acquisition cost of
refined fuel products and would make the appropriate interventions by
adjusting the excise tax rates in order to minimise any adverse consequence
on the economy from higher fuel prices on the world market.
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Former Member
According to GINA, the reduction of the excise tax rate on gasoline would therefore allow GuyOil to continue to retail gasoline at $980 per gallon resulting in no increase in public transportation fares to commuters.
Minibus operators on several routes have upped their fares recently with the government urging commuters not to pay the increases because they were unjustifiable.
Government had hoped meet next month to evaluate progress on integrating the minibus service under the Public Utilities Commission (PUC) and further work out institutional arrangements under which public transportation would be managed and regulated in future. The Commerce Ministry had also wanted clear terms of reference on the role, responsibilities, guidelines and procedures of each party.
Excerpts from Demwaves
Former Member
Dem PPP bais managing this well, gafa seh.
Former Member
Originally Posted by Sledgehammer:
Dem PPP bais managing this well, gafa seh.
Stop subsidizing Linden electricity and use some of that savings responsibly.
How come Ramjattan did not cut the electricity subsidy for Linden when Berbicians are paying very high rates like the rest of the country ?
Is Linden so special ?
Ramjattan chose to cut jobs of Indo Guyanese workers to feed his political greed by trying to win votes in Linden. This man is a very dangerous politicians.
Let us call a spade a spade.
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