The
Executive Chairperson of the Petroleum Unit has told Members of Parliament that
fuel subsidy by the government was one of the greatest challenges of the unit.
Speaking
during a familiarisation meeting with members of the Committee on Trade and
Industry, Dan Mason said they were faced with numerous challenges in respect of
government subsiding pump prices, while retailers buy the products at prices
that do not suit their comfort.
“In February
this year, Le6 billion fuel chits were collected and government subsidized. We
cannot really ignore the fact that it has to be substantial. CSOs on the other
hand have been asking for fuel price to be reduced to Le2,500 whilst others are
saying otherwise. All prices are beginning to go up and that is giving a signal
for fuel prices to increase too. There is a document on my desk now from IMF
and World Bank for the removal of subsidies on pump prices and discussion is
still ongoing,” Mason revealed.
On the
issue of incessant shortage of fuel, he said “We have indeed experienced
shortages from time to time, which is unacceptable as it is not good for the
sector. Sometimes we need to avoid it but we cannot. We are currently putting
out stock for a minimum of two weeks as we await the arrival of the minimal
threshold.”
He
cited security as another uphill challenge for the unit, whenever vessels
arrive at the quay. He told lawmakers the quay lacks adequate security to
protect and prevent thieves from stealing the product.
Chairperson
of the committee, Hon. Veronica K. Sesay, promised that they would look into
the issue as frequent fuel shortage brings the movement to a halt, adding that
sometimes it even hinders the movement of Members of Parliament.
She urged
the unit to work closely with the committee to address the challenges.
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