House of Representatives, with SNSD opposition, supports fuel excise tax reduction, but now the House of Peoples is to decide

(Patria) - The House of Representatives of the BiH Parliament adopted at today's session the Bill on Amendments to the Law on Excise Duties in BiH, which allows intervention in rising fuel prices.

However, for it to enter into force, it is necessary for the House of Peoples to adopt it as well.

This legal solution was adopted at today's session with 32 votes in favor and six against. As they previously announced, the SNSD representatives were against it.


Voting results

Representative Saša Magazinović (SDP BiH), the proposer of this legal solution, says that on March 8, the price of fuel at one station was 2.43 KM, eight days later 56 feninga more, and yesterday 71 feninga more.

- The chain reaction of price increases for goods and services continues. And when fuel prices return to normal one day, other prices usually remain. For price increases not to happen, the state must react.

Finally, by adopting this Law, the Council of Ministers is given the opportunity to make an urgent decision on the temporary abolition or reduction of the excise duty on petroleum products in situations of market disruption - says Magazinović.

He explains that until now, only the Parliamentary Assembly of BiH could do this through long and uncertain procedures.

- For certain types of petroleum products, considering the amount of excise duties, using this tool can mean a lower price of up to 50 feninga per liter. This is a powerful tool to stop or mitigate price increases.

I repeat that this is a race against time. Neighboring countries Croatia and Serbia have already reduced excise duties to avoid a sharp price increase.

Everyone supported the Law, except for a few SNSD representatives. The House of Peoples is next. I think that session will happen because the House of Peoples has previously unanimously accepted the measure of intervention on the amount of excise duty.

Thank you to my colleagues for supporting the Law. I also thank the Government of the Federation of BiH, which expressed its support for the Law and its intention to give up part of its revenues to make fuel cheaper for citizens and the economy - Magazinović stated.