Malawi News

Parliament committee backs ‘reasonable rise’ in fuel prices

Parliament committee backs ‘reasonable rise’ in fuel prices
The parliamentary committee on Natural Resources has recommended a reasonable adjustment of fuel prices by MERA.
Chilenga: We are also concerned.

The committee says however, the adjustments should be strictly for the purposes of cost recovery and not for increasing profits.

Chairperson of the Committee Werani Chilenga emphasized on the need for MERA to keep in mind the hardships that people in the country are already facing as a result of the calamities that the country has gone through.
Chilenga said since the pump price is lower than cost of importation, suppliers are using the same levies to supplement working capital to sustain their operations and ensure continued fuel supply into the country
He added that in the year 2024 from January to June, levies that have been withheld have pegged at MK 74.5 billion against the levies remittance of MK 14.4 million.
Additionally, in the same period, the major levies that have been withheld include MK33.3 billion for the road levy, MK25.1 billion for the rural electrification levy and Mk14.7 for reconstruction levy.