(Phnom Penh): Cambodian Prime Minister Hun Manet said on Saturday (Jun. 27)the Royal Government is forgoing about USD 50 million in monthly revenue by reducing taxes on fuel and electricity-related products to shield consumers from rising global energy prices.
The premier said the government cannot control geopolitical conflicts abroad but can take steps to lessen their impact on Cambodian households.
“We cannot stop wars abroad, and we all hope disputes can be resolved peacefully. What Cambodia can do is help our people,” he said, noting that the government has cut fuel taxes and supported some companies to help stabilize domestic prices.
Although fuel prices have increased due to global market pressures, Samdech Thipadei said Cambodia has managed to keep price increases relatively moderate compared with some other countries.
The prime minister also credited Samdech Techo Hun Sen’s long-term energy strategy for strengthening Cambodia’s energy security, noting that more than 62 percent of the country’s electricity is now generated from renewable sources, including hydropower.
He said stable electricity tariffs have helped ease the cost-of-living burden despite higher global oil prices, with the government continuing to absorb nearly USD 50 million in lost monthly revenue through tax reductions.
On the occasion, Prime Minister Hun Manet also highlighted tax incentives for electric vehicles and electric-powered equipment, saying the policy has made new EVs and electric motorcycles more affordable.
At the same time, he said the government would not ban used vehicle imports, acknowledging that many Cambodians cannot yet afford new vehicles. Instead, authorities will focus on ensuring imported vehicles comply with technical and safety standards.
The prime minister also reaffirmed the government’s commitment to healthcare, announcing an additional USD 20 million in annual funding to expand the supply of diabetes and hypertension medicines and improve access to treatment at provincial health facilities.
=FRESH NEWS
