The Senior Minister responsible for Finance, Dr. Ashni Singh, is pleading with providers of public transportation to allow good conscience to be their guide and not add any exorbitant increase to their fares.
Commuters across the country have been complaining about the operators of mini-buses and taxis hiking their fares in recent weeks, with some increasing their fares by more than 75%.
In a statement this morning, the Minister of Finance reminded that the Government had removed the excise tax from fuel, thereby cushioning the effect of any international increases. He wants public transportation operators to keep that in mind.
“We expect that the providers of public transportation will, in good conscience, recognise that at a time when we had reduced the fuel prices by taking off the excise tax on fuel, public transportation prices remained constant. We didn’t impose a requirement on them to reduce the prices that they charge and for the greater part, they did not reduce the prices they charge for public transportation and as a result of which, we expect now that good conscience shall prevail and a sense of social responsibility will prevail and that, we will not witness exorbitant increases in public transportation fares”
Minister Singh stated that despite the increase in the world market price for crude oil, locally, the adjustments at the pump are lower than they were expected to be.
“Notwithstanding the most recent spike in world market prices for crude oil, the price adjustment at the pump in Guyana, the rate of change in the price of gasoline and diesel at the fuel pumps in Guyana is about a half of the percentage increase that we have seen in the price of crude oil since these geopolitical developments and challenges have emerged”, he said.
Many mini-bus and hire car operators have indicated that in addition to the increase in gas prices, there have also been increases in parts for their vehicles while they too also face the increase in the cost of living and prices at the supermarkets.
The Government and the Police have both warned against unauthorized fare increases.
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