On Wednesday, the House of Representatives of the Parliamentary Assembly of Bosnia and Herzegovina (PABiH) adopted the Proposal of Amendments to the Law on Excise Duties, which temporarily abolished excise duties in BiH.
This will enable the price of fuel per liter to be reduced by 30 to 40 pfennigs, which will certainly significantly mitigate the growth of prices in our country, not only oil but also other foodstuffs, given that rising energy prices affects the growth of all other prices in the country.
The decision abolished excise duties on diesel fuel and other gas oils, kerosene, motor gasoline-unleaded, motor gasoline, heating oil, liquefied petroleum gas for the propulsion of motor vehicles, biofuels, and bioliquids.
A matter of reason
Social Democratic Party (SDP) delegate and proposer of this law Sasa Magazinovic said that this proposal was a matter of reason and that it was necessary to act urgently.
”This measure will not solve all economic problems, but it will reduce the price of fuel by 35 to 40 pfennigs and will send a message that we who are sitting here are responsible. There is support for this decision from the general public,” Magazinovic pointed out.
Indeed, voting in the State Parliament was a rare case for politicians in this country to harmonize their positions and make a decision that benefits all BiH citizens.
It is especially impressive that after months of boycotts, the representatives of the Republika Srpska (RS) entities decided to return to the parliamentary benches and vote for many necessary BiH laws. Of course, extreme situations, such as inflation and rising prices in BiH, require quick and decisive measures, and they have forced BiH parliamentarians to act, miraculously, in this case – in a positive way.
Public victory
One of the most deserving for the adoption of this law is economist Faruk Hadzic, who, since the beginning of price increase during COVID-19 pandemic, first advocated reducing excise taxes, and finally, with SDP delegates, worked on the preparation of these proposals. According to him, this decision shows that it is possible to help citizens and the economy when there is the will to do so.
”This is a great victory for the public, journalists, and us from the progressive part of the profession who have actively advocated the abolition of excise taxes,” said Hadzic.
Additional reforms
Economist Admir Cavalic believes that these changes are welcome, but that this moment should be used to implement a number of other reforms that would enable significant economic progress in our country.
”It is necessary to reduce business costs, other levies, parafiscal levies, which other governments are also doing. Commodity reserves must be activated and the most endangered must be protected,” Cavalic pointed out.
E.Dz.
Source: Avaz
