The government and oil industry have been debating fuel costs for a while. According to Minister Stanley Raghoebarsing of Finance and Planning, the administration is carefully considering ways to eliminate the fuel subsidy. The governing council headed by President Chan Santokhi extensively discussed this on Wednesday. Social groups will continue to get the funding.
According to a news release from the Communication Service Suriname, the existing diesel subsidy is expensive to the state. The government’s finances are under a great deal of strain due to the present fuel price, which is far from market-compliant. Raghoebarsing suggests that the funds should be used more wisely. “We might utilize the money for things like the health or education sectors, for instance.”
According to Raghoebarsing, President Santokhi had previously intimated in November of last year that the current state of affairs is untenable for the government and that something urgently needs to happen. He said that the social groups will continue to receive the payment. But before these actions are done, there will be discussions with all parties involved, including the business community, labor groups, and bus and boat owners.
Before setting official fuel rates, Raghoebarsing says that the government intends to put social measures in place. He claims that disclosing fuel prices is nothing unusual in his nation. The subsidy will need to be cut, but the government must do so while still providing shelter for the organizations that are struggling. He underlines that there is no reason to be afraid and that the supply of fuel is still secure.