Oil price-linked subsidies extended until April
As the soaring prices of fruit rarely went down, the government decided to lower tariffs on 20,000 tons of imported fruit. In order to increase the supply of Cheongyang peppers, a new shipment incentive will be provided, and the oil price-linked subsidy provided to buses will be extended until April.
On the 22nd, Deputy Prime Minister and Minister of Strategy and Finance Choi Sang-mok held his first meeting with related ministers on economic issues since taking office to check the price situation. Although prices have become relatively stable, the government estimates that there are still factors of uncertainty, such as fruit prices still being high and gasoline prices fluctuating again.
Accordingly, the government decided to continue providing discount support for fruits and squid and implement additional measures to stabilize supply and demand. First, an additional 20,000 tons of fruit tariff reduction will be allocated to importers by the end of March. The remaining 527 tons of the orange tariff reduction and low tariff quota (TRQ) volume will also be imported within this month. The purpose is to control prices by increasing fruit imports.
For two weeks from the 26th, a shipping incentive of 1,300 won per kg will be provided for Cheongyang peppers, cucumbers, and zucchini. The plan is to continue the policy of subsidizing the delivery price by 500 won per kg of green onions.
Measures were also taken to stabilize oil prices. In addition to the decision to extend the fuel tax cut scheduled to expire at the end of this month by two months, the diesel and compressed natural gas (CNG) price-linked subsidies provided to buses and trucks were also decided to be provided until April. The government also plans to operate a government-wide oil market inspection team for the next month to check whether gas stations are raising prices beyond the increase in international oil prices.
We also reaffirmed the principle of freezing utility charges in the first half of the year to lower service prices. We will also strengthen cooperation with local governments to prevent further increases in public transportation fares in the first half of the year. The policy of differentially distributing financial incentives to each local government in accordance with efforts to stabilize prices will also continue.
Sejong = Reporter Song Hye-mi [email protected]
2024-02-22 18:00:00
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