Posted on 21 September 2008
The Mirror, Vol. 12, No. 578
“Phnom Penh: Keat Chhon, Senior Minister and Minister of Economy and Finance, said that from 22 September 2008, fuel sold at different fuel stations in the Kingdom of Cambodia will cost between Riel 4,900 [approx. US$1.20] and Riel 5,000 [approx. US$1.22] per liter.
“Mr. Keat Chhon said so, after a meeting with fuel companies in Cambodia, following Samdech Hun Sen’s order to decrease the price of fuel, after seeing that the price of crude oil on the world market dropped around 25%, but in Cambodia, there is only an approximate 10% decrease, which is not balanced yet.
“Regarding the improper decrease of the price of fuel, compared with the international market price, Mr. Keat Chhon explained that normally, when the price of fuel on the world market rose by 80%, fuel stations in Cambodia increased the price by 40% only. He continued to explain that the Royal Government of Cambodia, led by Samdech Samdech Akkak Moha Senapadei Dekchor Hun Sen, had decided to provide subsidies as a challenge to the rising price of fuel.
“According to Mr. Keat Chhon, during a period of 9 months in 2008, the Royal Government has spent approximately US$200 million quietly in order to overcome the fuel price rise. Related to the efforts of the Royal Government in decreasing the price of fuel, Mr. Po Samnang, the director of the National Culture and Social Morality Center, who had tried to meet the Minister of Economy and Finance, said that he had sent a letter to the cabinet of Mr. Keat Chhon, asking him to encourage a decrease of the fuel price [from around Riel 5,000] to the range of Riel 4,100 [approx. US$1.00] or Riel 4,300 [approx. US$1.05] per liter in order to promote the living standards of the poor and of civil servants, who earn small salaries.
“However, Mr. Po Samnang’s effort was mocked by officials in the Ministry of Economy and Finance, saying, ‘You just drive an old car, why do you come to protest?’
“It should be noted that according to a source from the cabinet of the Minister of Economy and Finance, around 2 million liters of fuel are consumed per day. Therefore, if the Royal Government had decreased the price by Riel 100 [approx. US$0.02] per liter, the state will help consumers to save Riel 100 million [approx. US$24,500]. Nevertheless, what is interesting is that while the Minister of Economy and Finance had announced that the price of fuel will stay increased at around Riel 5,000 per liter, crude oil at the international market decreased from US$147 to US$91 per barrel on 15 September 2008 and rose again to US$97 on 19 September 2008.”
Kampuchea Thmey, Vol.7, #1751, 20.9.2008
Newspapers Appearing on the Newsstand:
Saturday, 20 September 2008
The Mirror, Vol. 12, No. 578
“Phnom Penh: Keat Chhon, Senior Minister and Minister of Economy and Finance, said that from 22 September 2008, fuel sold at different fuel stations in the Kingdom of Cambodia will cost between Riel 4,900 [approx. US$1.20] and Riel 5,000 [approx. US$1.22] per liter.
“Mr. Keat Chhon said so, after a meeting with fuel companies in Cambodia, following Samdech Hun Sen’s order to decrease the price of fuel, after seeing that the price of crude oil on the world market dropped around 25%, but in Cambodia, there is only an approximate 10% decrease, which is not balanced yet.
“Regarding the improper decrease of the price of fuel, compared with the international market price, Mr. Keat Chhon explained that normally, when the price of fuel on the world market rose by 80%, fuel stations in Cambodia increased the price by 40% only. He continued to explain that the Royal Government of Cambodia, led by Samdech Samdech Akkak Moha Senapadei Dekchor Hun Sen, had decided to provide subsidies as a challenge to the rising price of fuel.
“According to Mr. Keat Chhon, during a period of 9 months in 2008, the Royal Government has spent approximately US$200 million quietly in order to overcome the fuel price rise. Related to the efforts of the Royal Government in decreasing the price of fuel, Mr. Po Samnang, the director of the National Culture and Social Morality Center, who had tried to meet the Minister of Economy and Finance, said that he had sent a letter to the cabinet of Mr. Keat Chhon, asking him to encourage a decrease of the fuel price [from around Riel 5,000] to the range of Riel 4,100 [approx. US$1.00] or Riel 4,300 [approx. US$1.05] per liter in order to promote the living standards of the poor and of civil servants, who earn small salaries.
“However, Mr. Po Samnang’s effort was mocked by officials in the Ministry of Economy and Finance, saying, ‘You just drive an old car, why do you come to protest?’
“It should be noted that according to a source from the cabinet of the Minister of Economy and Finance, around 2 million liters of fuel are consumed per day. Therefore, if the Royal Government had decreased the price by Riel 100 [approx. US$0.02] per liter, the state will help consumers to save Riel 100 million [approx. US$24,500]. Nevertheless, what is interesting is that while the Minister of Economy and Finance had announced that the price of fuel will stay increased at around Riel 5,000 per liter, crude oil at the international market decreased from US$147 to US$91 per barrel on 15 September 2008 and rose again to US$97 on 19 September 2008.”
Kampuchea Thmey, Vol.7, #1751, 20.9.2008
Newspapers Appearing on the Newsstand:
Saturday, 20 September 2008
Hello! I just wish to offer you a big thumbs up for the great information you have got right here on this post.
ReplyDeleteI will be returning to your website for more soon.
Review my blog - small short term loans online