Effects of VAT on fuel.
Our dear economy is fully driven by fuel, and so any slight wave in the petroleum industry sends the whole country into total darkness.
This was painly felt countrywide after the trteasury decided to compel the Enery regulatory commision to effect a Value added tax (VAT) at a normal rate of 16%.
Long queues at local petrol stationsImage source
Striking vehicle operators due to fuel price increases.Image source
The struggle continues and the latest development being a Court located at Western part of the country issuing order to scrap of the tax charged in order to ease the burden on the citizens.
As we await to see the implementation of the orders on a new week, long queues continue being witnessed on major petrol stations as a result.
Let's keep watching as everything unfolds.
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Kind of reminds me of the long fuel lines we had in the states in the early 70's and the fuel shortage back then.
Am sure you must have felt it's effects too on almost every sector of your economy.
Thank you.
A nice well formulated post, and I liked the information you provided. Sometimes governments can't see beyond the immediate needs. They act, then have to act again to fix the first act.
I do appreciate your kind words. True, all they needs is collect some tax and when they realizes the mistake, in a quick move they passes other laws to counter their own.