CONSUMPTION | On the price front: Sik Yuen: “Ena great possibility pri les sans ogmante ankor”

The Minister of Commerce, Michael Sik Yuen, lays his cards on the table and indicates that the latest increase in the price of fuel, which occurred Wednesday evening, might not be the last. “Ena great possibility pri les sans ogmante ankor†, he declared during a meeting with the press in his office in Ebony yesterday. However, this further increase will depend on the outcome of the conflict in the Middle East. “The world economy is suffering from this war,” he added.

Regarding the recent increase in fuel prices in Mauritius, Michael Sik Yuen explains that the Buffer of Rs 500 million of the Price Stabilization Account (PSA) has been exhausted. “Today there is a deficit of Rs 7 million,” he specifies. He also indicates that the price of fuel should have seen a substantial increase. The liter of diesel should have reached Rs 109.77 and that of gasoline Rs 73.65. However, the mechanism only provides for a maximum increase of 10%. The Minister of Commerce indicated that a shipment arrived in Mauritius on Wednesday and that the country currently has 39 days of stock for gasoline, 41 days for diesel and 49 days for gas.

The situation is also under control in Rodrigues, where a boat loaded with fuel is expected to dock in the coming hours. He assured that Mauritius will not experience any stock shortages in the immediate future. In the meantime, Michael Sik Yuen opposed the removal of certain taxes on fuel, such as VAT or Excise Duty. “Unlike other countries, several services in Mauritius are free, such as health, education, and even transport for seniors and students. Taxes are used to finance them,” he explained, adding that: “if you want to pay less, you can take a lot of money.” He also made it clear that the government has no other means of financing these expenses, because "we have inherited an empty fund." One of the taxes on fuel concerns the Rs 7.20 per liter intended to subsidize rice, flour and household gas. Michael Sik Yuen points out that the price of household gas is Rs 705 in Seychelles, Rs 1,100 in Madagascar and Rs 1,300 in South Africa.

“If the government removes the Rs 7.20 tax on fuel, will Mauritians agree to pay more than Rs 1,000 for a gas cylinder? ", he asks. "To conclude on the fuel chapter, he affirms that certain service stations closed earlier on Wednesday upon learning of the increase in prices expected after midnight. “We have information regarding these stations and the case will be raised with the Ministry of Land Transport which deals with this item,†he declared, warning that “bann proprieter pou bizin vinn explike kifer inn ferm filling boner. “At the level of food products, the Minister of Commerce indicates that 25,000