Government Levies on Fuel Prices is Billions

12 years ago - 5 November 2012, lexpress.mu
Government Levies on Fuel Prices is Billions
Billions of rupees have been collected on the selling price of diesel and petrol for many years. The structure of fuel prices allows the state to fund specific projects.

Rs 10.5 billion. This is the amount deducted from the price at the pump for diesel and gasoline, since the introduction of a pricing structure that allows the government to finance specific projects. The first contribution was made to the Road Development Authority (RDA) in September 1990. Since then, more than Rs 5 billion rupees have been donated to the GDR by the State Trading Corporation (STC).

Financing of losses on the hedging remains one of the most significant additional burdens on motorists. From January 2008 to September 2012, some Rs 4.19 billion have been collected under this item. As for hedging carried out in 2008 under the leadership of Minister Rajesh Jeetah, which had caused loss of Rs 4.7 billion, the STC has yet discovered the sponge a little over Rs 500 million.

The Maurice Ile Durable (MID) Levy has, meanwhile, reported more than one billion rupees to the government since its introduction in 2008. While the levy to finance the freight for the transfer of petroleum products Rodrigues has recovered Rs 273 million.