Compensation for state petroleum traders

Under Official Letter 1447, the prime minister asks the Ministry of Finance, the Ministry of Trade to base on petroleum management regulations, and realistic situation of state-run petroleum business to control selling prices of petroleum products, ensuring profits for petroleum businesses.
The official letter says the government does not compensate for losses in petroleum business, however petroleum traders must be self-responsible for their business performance. The government compensates the losses of big state-run petroleum importers on the conditions that these importers have to follow regulated prices by the government in order to stabilise the market.
Additionally, the prime minister assigns the Ministry of Agriculture and Rural Development in cooperation with the Ministry of Trade to guide fertiliser importers to speed up import of fertiliser to meet fertiliser demand for production of winter-spring 2004-2005 crop.

 

Category: Legal