Africa-Press – Mauritius. Commerce Minister Michael Sik Yuen addressed concerns about the Price Stabilisation Account (PSA) deficit, currently standing at Rs 2.8 billion, during a Private Notice Question session led by Opposition Leader Joe Lesjongard. The Minister confirmed that the State Trading Corporation (STC) accounts are undergoing an audit by the National Audit Office.
Minister Sik Yuen criticized the previous government’s management, stating that the current administration inherited a “catastrophic situation” and a significant debt burden. He highlighted the government’s decision to maintain current fuel prices until July, which is projected to generate Rs 567 million to help reduce the PSA deficit.
The generated revenue from maintained fuel prices will be directly applied to offsetting the PSA debt. This strategy forms a key part of the government’s plan to address the financial challenges inherited from the previous administration.
Regarding pre-election promises of a Rs 20 fuel price reduction, Minister Sik Yuen explained that the government is working towards fulfilling its pledges. He emphasized that the current government lacked complete awareness of the economy’s condition upon assuming office. This lack of awareness, he argued, contributed to the difficulties in immediately implementing promised changes.
In summary, the government is actively addressing a substantial debt within the Price Stabilisation Account, utilizing revenue generated from current fuel pricing to achieve fiscal stability. The Minister acknowledged the challenges inherited from the previous administration while emphasizing ongoing efforts to fulfill campaign promises.
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