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    Minister says gov't cannot sustain price controls on fuel

    June 8, 2022

    Ramtha, June 7 (Petra) -- Interior Minister Mazen Faraya Tuesday said the government is considering increasing the prices of fuel four consecutive times in the upcoming few months.

    In a meeting with a group of investors in Al-Hassan Industrial Estate in Irbid, Faraya said the government would not be able to continue imposing price controls on fuel as it did during the past three months, adding Jordanians must readjust their daily routine accordingly.

    Faraya noted the government signed free trade agreements; nevertheless, the agreements are not luring investors, adding the government launched the national employment programme with JOD 80 million. He urged unemployed and jobseekers to register with the programme.

    'The citizen's ability to bear the high prices of oil derivatives now would be more than their ability to bear not to raise them in the future,' noting 'the government lost JOD 450 million as a result of controlling the price of fuels for the past three months,' he added.

    Faraya added, 'the government is not willing to make decisions to meet populist demands. It acts and makes its decisions to further the best national interests,' stressing that 'the state deals with reality, international changes and economic problems left by the COVID-19 crisis and Russia's war. Our responsibilities lie towards the most affected classes.'

    'Jordan is going through difficult circumstances. All countries of the world are witnessing price hikes, inflation and unemployment and Jordan is not isolated from other countries. The coming days will not be easy, and we must prepare ourselves,' he noted.

    He said the government is taking all necessary measures to lure investors by providing investor citizenship programmes, noting more than 60 people obtained citizenship during the past 7 months through investment programmes.

    The head of the Jordan Chamber of Industry, Fathi Jaghbir, said Jordan managed the COVID-19 crisis successfully, adding this matter was primarily reflected in the economy and industry, which has overcome the pandemic as a result of inter-government cooperation.

    He pointed the industrial sector is the 'driving force' of the economy and contributes directly to creating job opportunities, stressing the importance of supporting the 'vital and promising' sector.

    The meeting was attended by General Manager of the Jordan Industrial Estates Corporation (JIEC) Omar Juwaid, Chairman of the Irbid Chamber of Industry Hani Abu Hassan and President of the Investors Association in Al-Hassan Industrial CityImad Naddaf.


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