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АКИpress CA-News Tazabek Turmush
Uzbekistan eyes nearly $250 million financing to tackle gasoline shortage
Central Asia | business | 14:50, 16 November 2017 | 1582

AKIPRESS.COM - The Ministry of Finance of Uzbekistan will allocate 2 trillion sums (about $250 million) to country's oil refineries for import of oil products.

The relevant decree signed by President Shavkat Mirziyoyev on November 15 was published on the national legislative base website.

In accordance with the document, the hydrocarbon raw materials imported by Uzbek companies regardless of the form of ownership and use are exempted from customs payments by January 1, 2020. Oil refineries of the JSC Uznefteprodukt are exempted from income tax.

Mirziyoyev ordered the Ministry of Finance to increase the relevant items of state budget expenditures and parameters of the state investment program in connection with transition to the market pricing for petroleum products in 2017.

The leadership of the JSC Uzbekneftegaz earlier reported that it plans to import up to 1 million tons of oil from Russia and Kazakhstan since 2018 to supply its refineries.

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