The Minister of Energy, January Makamba has on Tuesday May 10, said the Government has provided a subsidy of Sh100 billion to reduce fuel prices in the country.
Speaking in Parliament Mr Makamba said the subsidy will reduce government spending for the remainder of 2021/22 fiscal year.
He said the subsidy would not affect the ongoing development projects.
“Our President, Samia Suluhu Hassan has instructed that the next financial year was far away, therefore recovery should be sought sooner. Therefore, as an emergency measure, in this period before we reach the new financial year, the Government will dedicate Sh100 billion to reduce oil prices in the country.
“The Sh100 billion subsidy will take effect from June 1, 2022. This is due to the fact that wholesalers have already paid for the fuel costs included in the May 2022 prices and petrol stations have already purchased fuel at the current price,”said Makamba.
On Sunday night President Samia Suluhu Hassan directed ministries and authority responsible to address immediately fuel price hike and come up with a quick solution.
Source: thecitizen.co.tz
