According to the 'Kampong Cham Times', Cambodian Prime Minister Hun Manet visited people affected by the floods in Phnom Penh Province. While distributing rice seeds and food to the disaster victims, he stated that in order to alleviate the pressure of rising fuel prices caused by the Middle East crisis, the government has invested over $600 million to curb the increase in oil prices through measures such as reducing taxes and fees, thereby reducing the burden on the people.
He said that although domestic oil prices have increased, the increase would be even greater if the government did not take measures such as reducing taxes and fees.
In addition to curbing the increase in oil prices, the Cambodian Electricity Company has also incurred a loss of approximately $70 million, in order to maintain stable electricity prices and prevent the energy costs from further increasing the burden on consumers.
Hong Manai delivers a speech 《Cambodia-China Times》
Since March this year, the Cambodian government has implemented measures to reduce import taxes on fuel and gas, in order to lower prices and ensure supply. These measures include continuing to offer a discount of 7.5 cents per liter for fuel, reducing import tariffs and additional taxes on gasoline and diesel to zero, and lowering the special tax rate on gasoline from 30% to 15%, while reducing the special tax rate on diesel from 10% to zero.
Meanwhile, the government is adjusting the taxes on electric vehicles, batteries, solar equipment, and induction cookers in order to reduce the financial burden on citizens.
