Officers of the NAPO have long-term information on the mechanism of automatic oil prices in Mali. During a press conference last Friday, CNPM, on November 23. It was attended by General Director of ONAP, Modbo Diall, Representative of the Ministry of Economy and Finance, Technical Supervisor Sauran Dambele and Head of NAPO Statistical and Administrative Department, Mamaud Sangara. .
In his intervention, the NATO chief reminded that over the past years, he faced with the rise in global oil prices and partially compensated the Mali government's consumer price fluctuations. by changing the duty and tax rates used to determine the indicative price of the pump. This policy has resulted in massive erosion of oil revenues, both automatically and systematically. To correct this, the Government has made a decision to introduce this mechanism of automatic oil products sales, he explained.
As for the automatic price mechanism, the NPO General Director explained how to choose oil prices for pumping prices. This mechanism, he says, automatically changes to the pumps price automatically at 3% or lower on international prices.
"This smoothing formula limits the rate of change in the pumps to keep the consumer's purchasing power as possible," he said. And add: "If the oil price rises 10% of the international price, the pumping price of oil products will only increase by 3%. This difference arises from taxation.
Established in March 2006, the NAPO Company has become a Public Administration Institution (EPA) with a mission to assist in the identification and implementation of oil products delivery policies. In this regard, he is a Secretariat of the Tax Committee on Taxation of the Oil Products under the Ministry of Economy and Finance of the Ministry. It consists of representatives of administrations (customs, commerce and competition, tax and transport management), oil operators (multinational and Malaysian operators) and consumer associations. Monthly pumping price for oil products.
Source: September 22