Government says no rise in petroleum byproducts

The Moroccan government said petroleum products' prices will not be raised in the kingdom despite a hike in international oil markets.

After a ministerial meeting here Monday chaired by premier Abderrahmane Youssoufi, a release of the prime minister department was circulated saying gas prices will be maintained at current level in keeping with royal orders and the government policy to preserve Moroccans' purchasing power.

The compensation fund, which bears most of the burden, has earmarked $42 million to stabilize consumer prices from July 1, 1999 to the end of Feb. 2000.