Business

Parliamentary Committee approves new diesel prices

National Yemen

Yemeni Parliament

By: NY Staff

The parliamentary committee assigned with studying new diesel prices proposed by the government has approved the proposed changes. According to sources, the committee was faced with many pressures, which eventually compelled it to change its decision to reject the government proposal.

“The committee provided that 20% of revenues from the new prices should be allocated for small farmers, excluding Qat farmers, and that remaining revenues should be deposited in the Central Bank,” added the sources.

In regard to the smuggling of oil derivatives, the committee demanded that the government cancel the contract concerning the transfer of oil derivatives between the Ministry of Oil and companies which are in charge of transferring oil.

“These companies were proved to be involved with oil smuggling and have already been blacklisted,” said the sources.

The committee also called for the monitoring process for the transfer of oil derivatives to be reconsidered.