DRC earns nearly $70M in a year after Reviewing Debt owed by Oil Tankers
The adoption of a more rigorous approach in the calculation and follow-up of the debt owed to oil tankers has made it possible to reduce the cost by +/- 70 million USD for the benefit of the Public Treasury of the Democratic Republic of Congo in one year.
These details were provided by the Acting Minister of the National Economy, Nicolas Kazadi, during the weekly meeting of the Council of Ministers held on Friday March 3, 2023 in Kinshasa.
Indeed, the Congolese Ministry of Finance and the Economy have initiated reforms aimed at cleaning up the price structure of petroleum products by reassessing the logistics and operating costs of oil companies and by optimizing taxation and oil parafiscality.
It is a question of reinforcing the transparency of the management of the petroleum downstream and of controlling the budgetary cost of the subsidy of the petroleum products which weighs in a considerable way on the Public Treasury.
In this, the two ministries established the Monitoring Committee for the Audit of Petroleum Products Prices. The latter supervised the recruitment process for Cabinet MAZARS RDC following a call for tenders conducted by the Central Coordination Office (BCECO), monitored the smooth running of the audit of the price structure of petroleum
products (with the technical support of EY RDC) and enabled its completion, a first for nearly a decade.
