(Phnom Penh): Cambodian Prime Minister Hun Manet said the government has spent nearly USD 500 million to stabilise fuel and electricity prices amid rising global oil costs.

The premier spoke on Wednesday (Oct. 7) while presiding over the celebration of the 80th anniversary of the University of Health Sciences in Phnom Penh.

“Our total expenditure has reached nearly USD 500 million solely to contain fuel and electricity prices for the public,” he said.

He explained that subsidies and tax reductions, including customs duties, specific taxes and VAT, have prevented fuel prices from rising by an additional 9 to 10 per cent.

On the occasion, Samdech Thipadei Hun Manet reiterated that the government must share the financial burden during crises, including wars and floods, to protect people's livelihoods.
=FRESH NEWS