The Council of Ministers met this morning under the President of the Republic Mr.Nicos Anastasiades. It was the last meeting of the body under its present composition.
The extension of the electricity cost subsidy measure to counter inflationary pressures for two additional months was approved, namely for the tariffs for the period March - April 2023 (for electricity consumption in the period January - February). The estimated cost amounts to €30 million and covers 449,000 households, 111,500 businesses, as well as water pumping consumption for water supply and irrigation. The subsidy will cover domestic, commercial and industrial users, as well as water users for water supply and/or irrigation and/or rainwater pumping on a bi-monthly basis.
It is noted that the Government has subsidised, in total to date, the amount of approximately €58.4 million to 1,353 water users.088 electricity bills issued from 1/9/2022 to 31/1/2023.
Also, as part of the measures promoted to mitigate the impact of the ongoing war in Ukraine, namely the increased fuel prices, the Cabinet of Ministers approved the bill entitled "The Law on Excise Taxes (Amendment) Law of 2023". The above bill grants an extension for a period of 2 months, from 1 March 2023 to 30 April 2023, of the imposition of reduced excise duty rates for certain products, due to the ongoing challenges faced by households and businesses in the field of energy product prices. The granting of the extension will alleviate the economic costs borne by consumers and businesses in the Republic.
The Council of Ministers approved the payment of emergency state aid for the sheep and goat sector, up to a maximum total amount of EUR 7 million. The payment of the State aid will be carried out by the Cyprus Agricultural Payments Agency (CAP), according to the databases of the Competent Authorities. The total amount per beneficiary will be offset against any debts owed by beneficiaries to the State.
The Council of Ministers, taking into account the sharp increase in fuel costs in recent times, which has a serious impact on the cost of transport and the financial burden suffered by the Greek Cypriot internees as a consequence, approved the subsidization of the costs of transport of the internees, so that the routes to and from Kormakitis and Karpasia will be subsidized with the monthly amount of €850 (incl. VAT included) instead of the current €750 and the routes to and from Rizokarpaso and Agia Triada Yialousa to be subsidised at the weekly rate of €225 (VAT included).), instead of the current €200.
(RM/MB/SX)
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