FITUG welcomes fuel price reduction

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Please see full press release-

The Federation of Independent Trade Unions of Guyana (FITUG) was heartened
to learn of the decision regarding the reduction in fuel prices by the
Guyana Oil Company Limited (Guyoil). The announcement which came over the
weekend was greeted by many workers who expressed elation at the decision.
The FITUG recognizes that the escalation of fuel prices over the last few
months was primarily influenced by external events of which we were an
unwitting victim. We recognized the efforts of the Administration to reduce
taxes on fuel to zero in an effort to mitigate the impact of the sudden
price rises. This policy had it not been pursued would have made the bad
situation even worse.

In recent weeks, we have observed, a gradual reduction in oil prices and had
anticipated that such reductions would have reached our shores. Undoubtedly,
the announcement by Minister Dr Ashni Singh demonstrates the active
attention the Government is giving to address the cost-of-living of
Guyanese. This is noteworthy and is an undoubted demonstration to the
ordinary people. The Federation, at this time, anticipates that other fuel
providers will follow suit and provide similar reductions to their
customers. Similarly, we also expect that savings accruing to businesses,
public transport operators and others will also be passed on to ordinary
Guyanese. Our workers and their families are in need of such respite.

The Federation notes other measures to address the cost-of-living in Guyana.
The collective policies are aimed clearly at providing a cushion for the
Guyanese people at this time of global upheaval and uncertainty.

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