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Fuel price drop predicted in Lebanon following VAT cut approval
- Lebanon: Thursday, January 26 - 2012 at 09:31
Maroun Chammas head of Lebanon's Association of Oil Importers has said prices of gasoil and diesel are expected to fall by as much as 10% once the parliament approves a recommendation to remove the VAT from this commodity, The Daily Star has reported. "The measure will help alleviate social conditions and lessen the energy bill on households. It should also contribute to lowering production costs on agricultural products and bread," said Chammas. The parliamentary Finance and Budget Committee endorsed a draft law to permanently eliminate VAT on the two vital commodities.
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StaffThursday, January 26 - 2012 at 09:31 UAE local time (GMT+4)
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