No Liberalisation Of Fuel Market Yet

Energy Minister Stuart Young says although Government has passed the legislation for fuel liberalisation, it has not been implemented yet since Government is sensitive of the current economic climate.

Speaking in the Senate on Monday, Minister Young said gas prices will continue to be subsidised until Government deems it necessary.

However, he said that when implemented, the most vulnerable will be considered.

Meanwhile, Minister Young said he doesn’t expect the transition to electric vehicles to happen overnight, and added that charging ports will soon be constructed in several parts of the country.

During the budget presentation earlier this month, Finance Minister Colm Imbert announced plans to remove Custom duties and VAT on the importation of battery-powered electric vehicles.

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