Peru under pressure to speed up debt payments

摘要

Companies importing and selling oil in Peru are pressing the government to adjust legislation that established a fuel stabilisation fund in 2004.Under the original law,the state is required to repay debts incurred to keep retail fuel prices stable two years after they were recorded.Debts accumulated this year,for example,would not be paid until 2010.The law,combined with periodic adjustments of the selective consumption tax on fuels,has prevented domestic gasoline and diesel prices from rising in line with international fuel prices.The state has replenished the fund or authorised disbursements 22 times-eight so far this year-bringing the full amount accumulated to 1.13bn between September 2004,when the legislation was passed,and June 2008.