Damascus, July 30 (SANA) Syria has reduced the price of industrial fuel oil from $475 to $400 per metric ton to lower production costs, support manufacturers and strengthen the competitiveness of domestic industries, Energy Minister Mohammed al-Bashir said on Thursday.
The move aims to ease financial pressure on manufacturers, sustain industrial production and contribute to greater market stability, al-Bashir told SANA.
“The reduction in the price of industrial fuel oil is part of the government’s efforts to support the industrial sector, encourage manufacturers, strengthen the competitiveness of Syrian products and ease the burden on production facilities,” he said.
Al-Bashir said lower energy costs would reduce production expenses, giving manufacturers greater capacity to expand operations and sustain output.
“Supporting industry is a direct investment in the national economy,” he said. “Lower production costs improve the competitiveness of Syrian products and bring us closer to greater market stability.”
He said the measure would benefit consumers by increasing the availability of locally produced goods at lower cost and higher quality.
The minister said the government would continue introducing measures to support productive sectors and create a more stable environment for industry and investment as part of broader efforts to promote economic recovery.
R.D/ABD
