Additional 79.1 billion won in fuel price-linked subsidies for tax-exempt fuel for agriculture and fisheries due to continued high oil prices

Agriculture, Fisheries & Livestock News농수축산신문

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[Nongsuchuksan Shinmun = Reporter Park Yu-shin] As high oil prices persist, the government has decided to provide an additional 79.1 billion won in fuel price-linked subsidies for tax-exempt fuel used in agriculture and fisheries until the end of the year. On the 29th of last month, the government held a Cabinet meeting and approved a plan to spend 79.1 billion won from earmarked reserves to cover necessary expenses, as the support period for fuel price-linked subsidies for agriculture and fisheries, which was scheduled to end last month, has been extended until the end of the year. To alleviate the burden of operating costs for farms and fishing households that have surged due to high oil prices, the government allocated 118.8 billion won in the first supplementary budget for this year, providing fuel price-linked subsidies covering 70% of the excess amount within the maximum payment limit when the price of tax-exempt fuel for agriculture and fisheries exceeds the standard price...

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