Why liberalise the fuel industry at this time?
That’s the question raised by Visham Babwah, president of the Automotive Dealers Association (TTADA).
He said government’s announcement to liberalise the sector is in bad timing and would strike another blow to the economy which is already hurting as a result of Covid-19.
Babwah is now calling on Government to delay its plans.
He told the Newsday that the liberalisation was another form of taxation to impose on the already burdened taxpayer.
According to the businessman, “This would literally put control of fuel pricing in the hands of the Government to increase prices as they see fit to increase revenue demand.”
He said “Government has not said what the mark up would be, so they could mark up as they see fit. If it goes through NP, NP would have to make a profit for their operating cost and management and then the fuel stations would put their mark up as is their right to do.”
“So, there is no fixed price and that is going to affect everybody.”