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The Transparency Board set up by the government to control the hydrocarbon market should also be transparent about security reserves.
The Minister of Infrastructure and Energy, Belinda Balluku on the day of the creation of the board said that there will be field controls
10 days later, one of the responsible institutions, the State Industrial and Technical Inspectorate, which also has a legal obligation to verify reserves, still has no administrative measures or to provide information if the country has sufficient oil reserves.
According to the law created in 1994 and the subsequent entry into force of a DCM in 2004, it is mandatory for all importers and wholesalers to have an average of 90 days reservation.
If they do not have these reserves, the fine is calculated as 50% of the value of daily consumption.
If this reserve existed, it would be easier for the government to manage the crisis situation caused by the war in Ukraine, while the immediate price jump to 260 lek could have been avoided.
For four years, the government has been avoiding the adoption of a law on mandatory reserves, which would automatically create the State Agency for Security Reserves, which would be subordinated to the Ministry of Infrastructure and Energy. The initiative was strongly opposed as the agency would be funded through a fee that would be collected on every one liter of fuel at refineries and wholesale companies and would add costs above the final price.
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