Finance Committee approves guidelines for MVR 100 million in fuel subsidies for fishermen
18 Oct 2012, 6:35 PM
Parliament’s Finance Committee yesterday approved guidelines for issuing MVR 100 million (US$6.4 million) worth of fuel subsidies for fishermen following consideration of revisions proposed by the fisheries ministry.
At a press briefing today, Finance Committee Chair MP Ahmed Nazim said that the guidelines were finalised in July but the committee had been unable to vote it through until now due to the reworking of committee composition and the suspension of parliament.
“Today we have informed the fisheries ministry of our decision,” Nazim said. “The sub-committee’s decision states that after deducting MVR 1 million for administrative costs, the remaining MVR 99 million should be used to subsidise the cost of fuel for each [fishing] trip based on engine horsepower.”
The People’s Alliance (PA) MP for Meemu Dhiggaru explained that the fuel subsidies would be released based on fuel consumption or engine horsepower (hp) instead of the size of the fishing vessel as was done previously.
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