(Phnom Penh): Cambodian Prime Minister Hun Manet said the government is foregoing around USD 50 million in monthly revenue after implementing tax and duty cuts to cushion citizens from rising global fuel prices.

Speaking on Saturday (Apr. 11) during the groundbreaking ceremony for Section II of the Funan Techo Canal in Takeo province, the premier said the measures target fuel, electrical appliances, and electric vehicles to reduce living costs.

“The Royal Government has never ignored the impact of rising fuel prices on our people,” he said. “From the outset, we introduced subsidies and later reduced import duties on fuel, as well as special taxes on electrical appliances and electric vehicles, bringing some down to zero.”

Samdech Thipadei added that these measures have resulted in an estimated USD 50 million monthly loss in state revenue, while Electricite du Cambodge (EDC) has absorbed a further USD 35 million to keep electricity tariffs stable.
=FRESH NEWS