The Ministry of Finance is taking steps to ensure that the measures announced by cabinet last week to counter the effects of rising prices of food and energy are being implemented.
Permanent Secretary for Finance Peceli Vocea said directives have been handed down to ensure these measure are put in place including the directive that government departments are to reduce energy consumption by 10% by December.
To counter the rising energy prices, a cap on gross profit margins of 7% from 10% on kerosene and outboard premix fuel will be introduced. The fuel rebate for the FEA will also be re-adjusted from 10 cents to 5 cents per liter.
Cabinet also agreed that there will be an adjustment of fuel rebate to the fishing industry from 10 cents per liter to 5 cents per litre which means the industry will pay 4 cents and not the current 8 cents and all government departments have been directed to reduce the use of fuel and energy by 10 percent by December.
Ministry Monitors Implementation of Counter Measures
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