New fuel tax introduced

Toll order: Consumers should brace themselves for a possible hike in fuel prices PIC: MORERI SEJAKGOMO
Toll order: Consumers should brace themselves for a possible hike in fuel prices PIC: MORERI SEJAKGOMO

Government has introduced a new 17.5 thebe per litre tax of fuel aimed at raising funds for Botswana Oil to build storage infrastructure and buy petroleum products stock.

Minerals Resources, Green Technology and Energy Security minister, Sadique Kebonang said Cabinet has approved the fuel levy, which will kick in on July 1, 2017.  The new tax will be in addition to the current fuel levy of 13.5 thebe per litre. Botswana consumes about 1.2 billion litres of petroleum products per annum.

  This means the new tax could raise as much as P200 million per annum. Botswana Oil chief executive officer, Willie Mokgatlhe told BusinessWeek that the new tax might not immediately lead to an increase in fuel pump prices as the National Petroleum Fund (NPF) might be able to cushion the effect of the tax in the short term.

Editor's Comment
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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