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Officials of the National Office of Petroleum Products (NAPO), have detailed long-term media men the mechanism of automatic pricing of petroleum products in Mali. It was during a press conference held last Friday, November 23, at the CNPM. It was co-hosted by Modibo Diall, Director General (DG) of ONAP, Sousourou Dembélé, Technical Advisor, Representative of the Ministry of Economy and Finance, and Mamadou Sangaré, Head of Statistical and Administrative Department at NAPO. .
In his intervention the CEO of NAPO reminded that in the past years, faced with increases in world prices of petroleum products, the policy of the Government of Mali has been to partially pass their fluctuations on consumer prices. , through the variation of duties and taxes used in the determination of indicative prices at the pump. This policy, which was neither automatic nor systematic, has led to a massive erosion of oil tax revenues. To remedy this, the Government has decided to implement this mechanism for automatic pricing of petroleum products, he explained.
Speaking of the automatic pricing mechanism, the CEO of NAPO explained that the choice of how to manage international price changes for petroleum products over pump prices was about the 3% price band mechanism. This mechanism, he says, means that monthly changes in international prices of less than or equal to 3% are automatically passed on to the pump prices.
"This smoothing formula limits the extent of price changes at the pump in order to preserve as much as possible the purchasing power of the consumer," he said. And to add: "The pump prices of petroleum products will only increase by 3% even if the rise in international prices was 10%. The difference will be borne by taxation.
Created in March 2006, the NAPO has become a Public Administrative Establishment (EPA) with the mission of contributing to the definition and implementation of the country's petroleum product supply policy. In this capacity, he is the secretariat of the Monitoring Committee for the Petroleum Products Taxation Mechanism, which is under the auspices of the Minister of the Economy and Finance, Ministry of Supervision. This commission, made up of representatives of the administrations (customs, the Directorate-General for Trade and Competition, Tax and Transport Directorate), oil operators (multinationals, and Malian operators) and consumer associations is in charge of determining monthly pump prices for petroleum products.
AMTouré
Source: September 22nd
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