Government yesterday announced that it had cut to zero the excise tax on diesel in an effort to ease the burden on consumers amid rising fuel prices worldwide, the Government Information Agency (GINA) said.
According to a GINA bulletin Minister of Finance Dr. Ashni Singh made the disclosure during an interview with the agency.
“Today I issued approval for the excise rate on diesel to be reduced from 10 percent to zero given the recent further escalation in oil prices on the world market. This latest reduction is a further step by Government to cushion the impact of world market price developments on the domestic consumer including, particularly in the case of diesel, industrial users for whom diesel is a key input,” Minister Singh was quoted by GINA as saying.
