Belgium (FN), Dec. 13 – Cambodian prime minister Hun Sen has instructed the Ministry of Commerce to have clear mechanisms to prevent the rise of oil price in Cambodia.

The premier spoke in a meeting with nearly 2,000 Cambodians residing in Europe on 12 December 2022.

Premier Hun Sen said that although Cambodia implements a free market economy, this measure is to prevent the opportunists to take advantages.

“The Ministry of Commerce will coordinate and not allow you [opportunists] to raise oil prices arbitrarily. This time, the Royal Government, despite the free market economy, must have clear guidelines,” the premier underlined.

Apart from oil, Samdech also highlighted the cost of electricity, claiming that the Royal Government did not raise the price of electricity despite the state's profit losses.

Samdech continued, if the Royal Government raises the price of electricity, it will be very dangerous for the livelihoods of the people. Therefore, Samdech advised Electricite du Cambodge (EDC) to stabilize the price.

Cambodia has estimated that EDC will lose USD 100 million this year due to surging of oil prices caused by Russia-Ukraine war.
=FRESH NEWS

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