No surcharge raise from FENAKA

FENAKA Corporation has said that even though the State Trading Organization (STO) has raised the price of diesel and petrol, FENAKA would not be raising their fuel surcharge.

STO raised the price of diesel by MVR 0.53 from a liter and MVR 0.57 from a liter of petrol. STO provides diesel and petrol to the State Electric Company (STELCO) and FENAKA Corporation to provide electricity across the country.

Managing Director of FENAKA Corporation, Ahmed Shareef told Sun Media today that they decided not to raise their surcharge under the government policy to provide easy facilities to the people.

Under the authorization order from the Energey Authority, companies providing electricity are allowed to take MVR 0.03 from every MVR 0.10 if the diesel liter is above MVR 8.

But after the duty tax from fuel was reduced by five percent by the government in June, STELCO and FENAKA Corporation removed the fuel surcharge in July altogether.

With the change to the fuel prices by STO today, a liter of disel will be available at MVR 9.17 while a petrol liter will be for MVR 9.52.