Bbumba for talks on petrol
Jun 16, 2003
SYDA Bbumba, the energy minister, has said the Government will not intervene, and force down fuel prices
By Ricks Kayizzi
SYDA Bbumba, the energy minister, has said the Government will not intervene, and force down fuel prices. Fuel outlets raised prices a few hours after presentation of the 2003/04 budget last Thursday.
Finance minister, Gerald Ssendaula, announced an excise duty increase of sh50 per litre for petrol and sh30 for diesel.
Petrol is currently selling at sh1,770, up from sh1,720, while diesel has jumped to sh1,510 from sh1,480.
Bbumba said yesterday, “It’s only the Ministry of Finance which handles fiscal policy and must have considered all the implications before raising taxes on fuel.â€
She said her ministry has started taking a closer look at the new Petroleum Supplies Act, which was passed by parliament two weeks ago.
“I will soon call all the dealers to a meeting, and try to set up a mechanism through which upharzard changes in fuel prices can be prevented,†she said.
Bbumba however defended fuel dealers, saying that if they had shifted the price burden to consumers during the recent Iraq war, no Ugandan would have been in a position to buy fuel.
“Apart from the recent Iraq war, dealers have been prompted into raising prices due to the high rate of smuggling which is existent today. We are negotiating with the Kenyan government to strengthen cross-over points and fully stamp out smuggling,†she said.
SYDA Bbumba, the energy minister, has said the Government will not intervene, and force down fuel prices. Fuel outlets raised prices a few hours after presentation of the 2003/04 budget last Thursday.
Finance minister, Gerald Ssendaula, announced an excise duty increase of sh50 per litre for petrol and sh30 for diesel.
Petrol is currently selling at sh1,770, up from sh1,720, while diesel has jumped to sh1,510 from sh1,480.
Bbumba said yesterday, “It’s only the Ministry of Finance which handles fiscal policy and must have considered all the implications before raising taxes on fuel.â€
She said her ministry has started taking a closer look at the new Petroleum Supplies Act, which was passed by parliament two weeks ago.
“I will soon call all the dealers to a meeting, and try to set up a mechanism through which upharzard changes in fuel prices can be prevented,†she said.
Bbumba however defended fuel dealers, saying that if they had shifted the price burden to consumers during the recent Iraq war, no Ugandan would have been in a position to buy fuel.
“Apart from the recent Iraq war, dealers have been prompted into raising prices due to the high rate of smuggling which is existent today. We are negotiating with the Kenyan government to strengthen cross-over points and fully stamp out smuggling,†she said.