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OIL COMPANY'S MANAGEMENT MUST REACT TO PRICE INCREASE BY REDUCING REBATES - PM

ZAGREB, Sept 30 (Hina) - Prime Minister Ivo Sanader asked themanagement of the INA oil company to react to the increase in oilproducts' prices by reducing rebates, saying an official request tothat effect would be sent from today's government session.
ZAGREB, Sept 30 (Hina) - Prime Minister Ivo Sanader asked the management of the INA oil company to react to the increase in oil products' prices by reducing rebates, saying an official request to that effect would be sent from today's government session.

Speaking at the session, he said the government would closely watch the increase in oil prices and directly intervene if the price of petrol reached the critical level of eight kuna.

Sanader joined everyone who is concerned about the growing prices of oil on the world market, but dismissed claims that the government profited from higher oil products' prices as a result of the fact that higher petrol prices increased excise taxes.

"That's not true. Excise taxes are fixed and haven't changed since March 2001," he said.

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