New Fuel Prices Reset For October - Ministry Of Finance
Category: India

Ministry of Finance has set the new price of diesel and other types of fuel for October, indicating a liter of kerosene and diesel will be sold for 100 fils, and 105 fils for Octane (95), 165 fils for Ultra (octane 98) and 95 fils for a liter of octane (91), reports Annahar daily.

At a meeting held last Monday, the Council of Ministers said fuel prices will be revised monthly and not every three months. Sources indicated that the Cabinet agrees with the Parliament on the importance of compensating limited-income citizens for the increased fuel prices, and has been working on finding a suitable method to do so.

Meanwhile, the sources affirmed that the increase in fuel prices is part of the expenditure rationalization policy and is linked to the sovereignty and credit rating of Kuwait as per Moody’s Corporation due to which the government cannot withdraw its decision to increase the fuel prices.

They revealed that the request to hold an emergency parliamentary session is constitutional and must be adhered to as the government follows the Constitution of Kuwait.

The sources explained that the decision to attend or not attend the parliamentary session has not been taken yet especially since the government has not received a parliamentary invitation in this regard. However, the likelihood of the government refusing to attend the session is minimal due to Article 116 of the Kuwaiti Constitution.

Meanwhile, senior legal sources explained that the government has three choices in this regard. The first choice is to attend the parliamentary session and hinder the efforts taken by some to complicate the situation so that the current Parliament will be dissolved.

The second choice is to refer a letter of non-cooperation and call for new parliamentary elections. The third choice is for the government to present its resignation. The sources indicated that it is not relevant whether the government attends or boycotts the session, since most of the MPs agree with the government on the need to continue with the economic reform processes.



24 Sep, 2016 0 6810
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