Government has no plan to subsidize fuel prices
The UAE government has no intention to subsidize fuel prices, Mohammed bin Dhaen Al Hamili, minister of energy, affirmed Tuesday at the Federal National Council.
''Indirect subsidy was already in place .........around AED 6 is actually lost against every gallon of petrol sold at fuelling stations. Local fuel producers and distributors are losing AED 500 million a year due to high world oil prices,''the minister told the house in its session today which presided over by its Speaker Abdul Aziz Al Ghurair.
Answering questions raised by members about power shortage in the northern emirates, the minister electricity is distributed according to priority schedule.
He added that a federal draft law allowing private sector to generate power is on the anvil. (WAM)
''Indirect subsidy was already in place .........around AED 6 is actually lost against every gallon of petrol sold at fuelling stations. Local fuel producers and distributors are losing AED 500 million a year due to high world oil prices,''the minister told the house in its session today which presided over by its Speaker Abdul Aziz Al Ghurair.
Answering questions raised by members about power shortage in the northern emirates, the minister electricity is distributed according to priority schedule.
He added that a federal draft law allowing private sector to generate power is on the anvil. (WAM)
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