Officials of the National Bureau for Petroleum Products (NAPO) have detailed long-term media men's automated oil pricing mechanism in Mali. It was during a press conference held on Friday, November 23 at the CNPM. He was co-organized by the ONAP Chief Executive Officer (ONAP), Modrabo Diall, Sousourou Dembélé, Technical Adviser, Deputy Minister of Economy and Finance, and Mamada Sangare, Head of Statistics and Administrative Affairs at NAPO. ,
In his intervention, the NAPO Chief Executive recalled that over the past few years, Mali government has faced some of its volatility in consumer prices in the context of rising world oil prices. , the change in taxes and taxes used to determine the indicative prices for the pump. This policy, which was neither automatic nor systematic, has led to a massive worsening of oil tax revenues. As a result, the government has decided to introduce this mechanism for automatic valuation of petroleum products, he explained.
Regarding the automatic pricing mechanism, the NAPO Managing Director explained that the choice of how to manage international price changes for petroleum products above pump prices concerned the 3% price band mechanism. This mechanism means that monthly changes in international prices of less than or equal to 3% are automatically transferred to pump prices.
"This balancing wording limits the scope of price changes on the pump to keep the purchasing power of the consumer as much as possible," he said. And add: "Oil prices for petroleum products will increase by only 3%, even if the international price increase is 10%, the difference will be taxed.
Created in March 2006, the NAPO became the Public Administration Authority (EPA), whose role is to contribute to the definition and implementation of the oil supply policy in the country. In this capacity, it is the secretariat of the Monitoring Committee for Petroleum Products Taxation, which is under the auspices of the Minister of Economy and Finance of the Ministry of Supervision. This commission, consisting of representatives of the administrative authorities (Customs, Directorate General for Trade and Competition, Directorate for Taxes and Transport), operators of oil companies (transnational and malt operators) and consumer associations, monthly oil prices for petroleum products.
Source: September 22