A huge relief for South Africans as the finance minister announced an emergency intervention which will see the general fuel levy reduced by R1.50 per litre.
Godongwana made the statement before the National Assembly on Thursday and will see the levy price of petrol and diesel reduced by about a R1 a litre.Godongwana said the measures were taken by the government despite its constrained fiscal position to protect poor household. He said the conflict in Ukraine has also intensified the risks for the country: “To mitigate the impact of these escalating fuel prices, I hereby table the following proposal which will be included in the 2022 Rates and Monetary Amounts and Amendments of Revenue Laws Bill for consideration by this house. A temporary reduction of the general fuel levy for R1.50 cents per litre for the period 16th of April to 31st of May 2022. This will reduce the levy for petrol from R3.85 cents per litre to R2.
Godongwana said the country can make the intervention after the liquidation of a portion of crude oil reserves which will raise about R6 billion.
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Finance minister to announce emergency measures to mitigate soaring cost of fuelFinance minister Enoch Godongwana is due to make a special address to the National Assembly on Thursday afternoon to announce emergency measures to mitigate the impact of soaring fuel prices on consumers and motorists.
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