Maldives to Cut Import Duty on Diesel by 50 Percent

[2011-05-04 15:35:40]


The Cabinet, after deliberating on the impact of increasing prices of diesel in the world market to Maldivian economy, has decided to cut import duty on diesel by 50 percent.

State Trading Organisation (STO) has recently increased price of diesel twice, in response to rising world oil prices, especially the price of diesel.

The Cabinet's decision comes after in depth discussion, at May 4, 2011's Cabinet meeting, on abating drastic fluctuations in diesel prices in the Maldivian market in quick successions due to unpredictable world fuel prices, the President's Office added.
Source: Haveeru.com
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