Phnom Penh (FN), June 29 – Presiding over the groundbreaking ceremony of the construction of Flyover Bridge Chom Chao Roundabout near Phnom Penh airport, Cambodian Prime Minister Hun Sen confirmed that the petroleum price will decrease by 160 riel ($0.03) from the first July 2018, as announced on 22 June 2018.

“A friendly reminder: today is 29; tomorrow is 30, and the next day is 1 July, which is the day that the petroleum price nationwide to decrease by $0.03,” said Prime Minister Hun Sen.

“Please don’t say that you haven’t received or heard about this policy yet….The Ministry of Commerce has to follow all local petroleum stations to implement this policy,” he added.

Prime Minister said that the joint public private partnership on petroleum price discount is to address people’s concerns.

According to the premier, the Royal Government of Cambodia has spent $83 million to stabilize the petroleum price during the first five months of 2018.

It is not enough, he said adding that: the government will (1) determine basic charge of gasoline tax fee comparing to international market price (2) discount tax rate from 35% to 15% for petroleum, 15% to 5.5% for diesel, and %15 to 10% for oil. Through this measure, the government will hold $30 million accountable annually.

The petroleum price discount campaign will be jointly initiated by the government and petroleum companies like Sokimex, Tela, Total, Caltex, Papa, Ptt. In this sense, the government will be responsible for 50% of the $0.03 discount per liter, an equivalent to $0.0015, and the other 50% by the petroleum companies.
=FRESH NEWS