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Monday, July 15, 2024

Lao Government Provides Over USD 100 Million to Solve Fuel Crisis

This Week

The Lao government has allocated USD 102 million toward petrol companies in order to address the ongoing fuel crisis.

The Deputy Prime Minister, Mr. Sonexay Siphandon, said at the National Assembly Session that the government has already allocated USD 102 million to the fuel industry in order to address the country’s fuel shortage and meet demands.

To address the shortage the government has now imported over 60 million liters of fuel. Of this 60 million liters, more than 75% is diesel.

Mr. Sonexay said that Laos imports all of its fuel and uses an average of 100 to 120 million liters per month, or about 1.2 billion liters annually.

This importing of fuel comes after Lao Minister of Finance, Mr. Bounchom Oubonpaseuth, guaranteed fuel supplies will be sufficient for motorists across Laos for the next three months.

According to Minister Bounchom, the government has opened a line of credit for the Lao National State Fuel Enterprise to purchase some 200 million liters of fuel, which he says will be enough to keep the country going through June, July, and August.

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