Lao govt attempts to regulate fuel price

VIENTIANE (Vientiane Times/Asia News Network):The government is taking steps to rein in the rising price of fuel, to ease the impact on the economy and the lives of the general public, amid a volatile global market.

Since taxes and fees represent 31-46 per cent of the oil price charged in Laos, the government has decided to cut Value Added Tax from 10 to 7 per cent this year.