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[size=38]An Economist Warns Against Resorting To A Move To Lift Fuel Subsidies
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LAST UPDATE 04/06/2022 | 10:55 AM
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Information / Baghdad...
The economist, Ihsan Al-Kinani, warned of the danger of lifting subsidies on oil derivatives, especially gasoline fuel, pointing out that the surplus oil revenues could be used to establish new refineries to achieve self-sufficiency in fuel.
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Al-Kinani told Al-Maalouma, "Some countries do not support and others have lifted subsidies on gasoline fuel due to the rise in global markets, but the first affected by this is the citizen, as such a matter will push citizens to move towards public transport, which is also going to become high." In addition, car prices will decrease.”
He added that "Iraq is difficult to implement the idea of lifting subsidies on fuel, due to the low income of the citizen, as well as the high rate of poverty, as the tendency to raise subsidies will create a disaster," noting the possibility of overcoming the fuel scarcity by exploiting surplus oil revenues to establish new refineries and achieve Self-sufficiency".
And he indicated that "promotion by some specialists of the idea of lifting fuel subsidies on some types of luxury cars, is also not possible to apply in Iraq, because old or low-level cars will witness a great demand for their purchase, and therefore their price will be equal to other luxury vehicles." finished 25
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