Does the government favor fuel companies? The minister challenges the citizens to "prove that they are spending more than they should"

2022-11-15 11:41:07Biznes SHKRUAR NGA REDAKSIA VOX
Delina Ibrahimaj

During a press conference, the Minister of Finance, Delina Ibrahimaj, answered the journalists' questions. Regarding the Transparency Board, Minister Ibrahimaj said that it is untrue that the board makes decisions not based on the performance of the stock market, but based on the interests of the fuel sales companies.

"The Transparency Board, which sets the trading prices of hydrocarbons, has been operating for a year now. I challenge you and anyone else to prove what the media has said and repeated on repeated occasions. You assume that the board makes decisions not on the basis of the performance of the stock market, but on the basis of interests which are in fact non-existent.

Since the beginning of the operation of the board, we have reduced the hydrocarbon trading margins and these effects are measurable and can be calculated by every citizen, every economist who can ask for information. We have reduced the margin significantly to more than half the margins that were operating a year ago. On the other hand, you say that we do not reflect stock market prices. You can refer to the prices of the crude oil exchange, i.e. Crudo Oil, which have different fluctuations from the prices of the exchange to which we refer, in which Albanian companies trade and at the price they buy.

We use Platts S&P and on that price we apply profit margins, taxes and a very important element which is never calculated and never taken into consideration, is the performance of the exchange rate. Hydrocarbons are generally traded in Dollars and you probably know that during this year the Lek has appreciated against the Dollar for the sake of the entire functioning of the international markets.

So a very important element which is calculated every day in the stock exchange calculations is the exchange rate. I will take you the case of last Friday where in fact the price of the hydrocarbon exchange increased, but the exchange rate was favorable and the price of hydrocarbon trading in the country decreased, although the exchange was increased.

When an analysis is done it must be done with all its components, the board operates on the basis of a law which is an obligation for every member of the board and I tell you with full responsibility that the allusion you make is not correct and is incorrect ", said Minister Ibrahimaj