Singapore-Based Company To Implement Mandatory Fuel Marking In Kyrgyzstan
Date
10/2/2024 7:12:59 AM
(MENAFN- Trend News Agency)
BISHKEK, Kyrgyzstan, October 2. Singapore-based
Nanolumi Pte. Ltd. will implement mandatory fuel marking in
Kyrgyzstan, Trend
reports.
According to the Center for Public-Private Partnership of
Kyrgyzstan, the public-private partnership project aims to enhance
tax revenues, improve fuel quality, combat the shadow Economy in
the fuel market, and protect the environment.
The initiative will entail the Acquisition of markers for
incorporation into gasoline and diesel, as well as specialized
analyzers for testing and monitoring purposes.
The marking system will help identify fuel that is illegally
imported or sold domestically without taxation. Nanolumi will serve
as the private partner for this project, which will operate under a
"sandbox" framework. The total funding for the initiative is $4.02
million without government co-financing.
The center noted that it places special emphasis on innovative
projects and actively works to attract private investments into
initiatives aimed at increasing tax revenues and reducing the
shadow economy.
On October 1, the official launch of the fuel marking system
using molecular markers took place at the oil plant in Kant.
MENAFN02102024000187011040ID1108738799
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.