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Cabinet approves 50pc reduction in oil, gas tariff

Cabinet approves 50pc reduction in oil, gas tariff

Dec 01, 2017 - 06:52

KABUL (Pajhwok): The cabinet has reduced oil and gas tariffs by 50 percent, a move that will help cut prices, the deputy minister of customs and revenue announced on Thursday.

Dr. Najibullah Wardak, flanked by Afghanistan Fuel and Liquid gas Enterprise (AFLGE) head Dr. Walid Tamim, made the announcement at a news conference in Kabul.  

Based on their recommendations, they officials said the Council of Ministers made the decision at a meeting chaired by President Ashraf Ghani on Wednesday.

Wardak said the tariffs had been slashed from 12 percent to six percent. Prices of oil and gas in the international market frequently fluctuated over the past six years, he added.

Within the customs system of the country, he said, there was a need for fixing oil rates on a daily basis. The cabinet decision would be valid for three months.

According to him, the oil prices have fallen from $151 to $97 per barrel. Similarly, the price of petrol and diesel had come down from $600 to $450 dollars per ton.

The cost of jet fuel had also decreased from $1165 to $450, the deputy minister said, hoping the move would help counter fuel smuggling and stabilise rates.

For his part, Dr. Walid Tamim said the cabinet had recommended strict measures to prevent the liquefied gas smuggling to neighbouring Pakistan.

In the wake of the cabinet decision, gas prices would come down in the markets over the next few days, he concluded.