Moroccan government ponders on measures to stabilize fuel prices
Morocco, Economics, 9/15/2000
The Moroccan government held on Thursday a meeting to ponder on measures to stabilize fuel prices at the internal market and safeguard the interests of the economy.
Minister of social economy, small and medium-sized enterprises and handicraft, in charge of the government's general affairs, Ahmed Lahlimi, told reporters the meeting looked into the situation of the energy sector in Morocco following the oil prices hike on international markets for which the state budget earmarked 3.2 billion DH (US$ 290 million) in subsidies.
According to the minister, the focus was laid on the need to rationalize the use of energy and resources.
Trade, industry, energy and mining minister, Mustapha Mansouri, said the meeting looked into means to alleviate effects of oil prices hike on national economy, energy being the major element of economic competitiveness. He also disclosed that the government is ready to reconsider the equation making up fuel prices and their taxation.
Similar meetings will be carried on to find solutions to the protest movements announced after the government decided on September 1st increases in fuel prices in Morocco.
The official statement announcing the fuel price increases explained that the government has delayed several times the decision and the state had to sustain between August 1999 and August 2000 a burden of 2.57 billion DH ($ 233 million) to avoid reflecting the international oil prices on consumers.
Morocco's trade balance deficit worsens by 36% during january-july period
Morocco's food products imports increase by 17.6 % in jan-july 2000
Morocco's oil bill to exceed one billion dollars
Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.
| Advertise on ArabicNews.com. MyFlowers.com sold more than $2700 of flowers in one month advertising on ArabicNews.com! Make your company, and products a success. Special rate for new and small business. Inquire!Advertising Info