Issued by: Office of the President
The Cabinet at its meeting on Wednesday 9 October 1996 discussed proposals regarding the increase in the wholesale margin of the oil industry.
A letter on behalf of the oil industry to the Minister of Mineral and Energy Affairs was put before the Cabinet. The Cabinet noted the contents of the letter.
The Cabinet appointed a Committee of Ministers consisting of the Ministers of Mineral and Energy Affairs, of Transport, of Finance and of Trade and Industry to urgently consider a proposal for consideration by Cabinet on the Government's overall future position in regard to the Marketing of Petroleum Activities Return (MPAR) mechanisms, as well as proposals in regard to the possible future amendment of the oil price formula.
Further information can be obtained from the Ministry of Mineral and Energy Affairs.
Secretary of the Cabinet.
Issued by the Office of the President
11 October 1996