Officials of the National Bureau of Petroleum Products (NAPO) described in detail long-term media about the automatic pricing mechanism for petroleum products in Mali. This was during a press conference held last Friday, November 23, at CNPM. It was jointly organized by Modibo Diall, Director General (DG) ONATO, Sosuru Dembele, Technical Advisor, Representative of the Ministry of Economy and Finance, and Mamadou Sangare, Head of the Department of Statistics and Management of NAPO. ,
In his speech, the Director General of NAPO recalled that in recent years, faced with a rise in world prices for petroleum products, the policy of the Mali government was to partially pass on its fluctuations in consumer prices. , by changing the duty and taxes used in determining the approximate prices at the pump. This policy, which was neither automatic nor systematic, led to a massive erosion of oil tax revenues. To fix this, the government decided to implement this automatic pricing mechanism for petroleum products, he explained.
Speaking about the automatic price mechanism, the CEO of NAPO explained that the choice of how to manage international changes in the price of petroleum products compared to pump prices was about 3% of the price range. This mechanism, he said, means that monthly changes in international prices, equal to or equal to 3%, are automatically transferred at pump prices.
“This smoothing formula limits the degree of price change at the pump in order to maximize the consumer's purchasing power,” he said. And add: “Prices for petroleum products for petroleum products will grow only by 3%, even if the increase in international prices is 10%. The difference will incur taxation.
Established in March 2006, NAPO became a public administration institution (EPA) with a mission to help define and implement a policy of supplying petroleum products in the country. In this capacity, he is the secretariat of the Committee on Monitoring the Mechanism for the Taxation of Petroleum Products, which is under the auspices of the Minister of Economy and Finance of the Ministry of Supervision. This commission, consisting of representatives of administrations (customs, the general directorate for trade and competition, tax and transport management), oil operators (transnational corporations and Malian operators) and consumer associations, is responsible for determining the monthly price of gasoline for petroleum products.
Source: September 22