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The board reduced the price of oil by 1 lek, Konfindustria: To dissolve, favors the fuel cartel

2022-08-09 09:31:19Biznes SHKRUAR NGA REDAKSIA VOX

The board reduced the price of oil by 1 lek, Konfindustria: To dissolve, favors

Konfindustria has reacted after the decision of the Transparency Board which reduced the price of oil by 1 lek, although the stock market has suffered a record drop.

Konfindustria says that the Board should be merged and the Fuel Regulatory Body should be established. According to Konfindustria, the Board is acting against the public interest and favoring the fuel cartel

"Confindustria asks the political decision-making to undertake the legal initiative for the immediate merger of the Transparency Board/BT together with the establishment of the Fuel Regulatory Body/ERK. ERK should be established as a permanent, professional institution under the Albanian Parliament, according to proven successful regional models. BT is a temporary institution, dependent on the government, and consists in a clear act of conflict of interest in half of the members from the subjects that must be controlled. Konfindustria assesses that the Transparency Board in all its decision-making has acted to the detriment of the public interest, clearly favoring the fuel cartel, especially in wholesale market prices and port and storage operation fees,

The clearest case of clientelistic decision-making by the Transparency Board is dated 6/8/2022. With an act clearly defying the public interest and without any accompanying technical explanation from BT, the price of oil decreased by only 1 lek/liter, at least 20 times smaller than what was possible from the wing estimates of the drop in prices on the international stock exchanges. . The retail price of diesel should be below 200 ALL/liter. Today, Albania has the highest fuel prices in the world in relative terms and 20-30% in absolute terms in the region. The above is accompanied by quality outside the minimum international standards and serious abuses and theft of fuel sales volumes. The fiscal burden is among the highest in the region, clearly fueling mass smuggling. The costs of abuse in the fuel sector, coupled with massive smuggling to the detriment of the state budget, can reach up to 500 million/year to the detriment of businesses, citizens and economic development in the long term. This does not include the costs of environmental damage, health, machinery, equipment and direct consequences in other sectors of the economy.", says the reaction.


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