PMs confirm price hikes [Archives:2004/718/Local News]

March 8 2004

Mohammed bin Sallam
Parliamentarian sources confirmed on March 4 that the government intends to increase prices of oil derivatives as of July, where the prices of diesel and petrol will be 35 and 50 YR, respectively.
The government presented a memo on week before last calling for the approval of the parliament to the price increase. The urgent request of the government for a joint meeting of the parliament and Al-Shoura Councils on Saturday before last aiming to discuss and approve the latest decision of the government to raise fuel prices generated resentments of a big number of parliament members.
It was a shock to many others since how could the people withstand the new prices and the majority of the public live beyond the line of poverty.
An economic expert warned from this increase and said that the increase in fuel prices would mean higher prices of all goods and services and consequently, the level of poverty would be higher in a way which may threaten social stability of the society.
The opposition parties represented in the parliament have announced they would fight the increase and would vote against it in the parliament.