Work is being done to extend measures taken in light of increases in fuel prices, Minister of Energy, Trade and Industry Natasha Pileidou said today.
Speaking on the sidelines of the Famagusta Business Forum and asked about the increases in fuel prices, Pileidou said that "surely the measures are being processed and extended".
She added that because of the reduced excise duty on fuel we see that we are one of the lowest cost states, among the cheapest five in recent months.
"But surely we have all seen the noticeable difference compared to what we were paying before. So for all the products that have been affected, whether they are electricity, fuel, essentials there is a preparatory work and there will be discussions and a meeting with the President of the Republic to see what additional measures can be taken," she said.
She pointed out that "certainly with our new bill for the Renewable Energy Fund.E is being promoted and a reduction of the consumption fee on electricity, in the tariffs of AHK, where we hopefully will hopefully reduce this fee from 0.5 cents per kilowatt-hour to 0.1 cents per kilowatt-hour with the passing of the law."
And we will see what other measures can be included in our toolbox, given that unfortunately the war continues, she added.
We see, the minister continued, that sanctions will continue to be imposed and possibly more will be added. "So short term measures and long term measures are definitely needed, such as the sponsorship plans that have been announced recently," she said.
Pileidou recalled that "there is also a plan for businesses for upgrading buildings, installing photovoltaic panels, etc., where an amount of up to 300 thousand per company is available, and the total budget is 40 million."
"We hope that businesses will embrace this plan as well as 9 million for local authorities, where there is a significant opportunity for local authorities to contribute to reducing costs for citizens," he said.
He also said there is the water heater scheme announced yesterday, the energy-intensive appliance replacement scheme for vulnerable consumers which is still running, and in the next few weeks our scheme for installing photovoltaic panels and roof insulation in homes will come out.
Asked about the importance of the Famagusta Business Forum, she said that "this is the first time that a forum of this magnitude has been held in the Famagusta region. I believe that it is very important for Famagusta to highlight the potential that exists here for business activity and to expand to other sectors of the economy apart from tourism, which is the main activity."
"That is why as the Ministry of Commerce we support this effort and we believe that it has a huge potential," she said.
She added that other initiatives will follow under this umbrella, which will help more broadly in strengthening relations between Greece and Cyprus where imports and exports are increasing.
She said that "despite the coronavirus in 2021 we had an increase in both, and we will certainly try to strengthen trade between the two countries even more."
Source: CNA
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