Via Vivian Nereim and Yousef Gamal El-Din in bloomberg.com : Saudi Arabia is “reviewing its plan to cut domestic energy subsidies as it tries to balance its budget without hurting businesses that have relied on cheap power for a competitive edge.
“We have been asked by the government to re-study what would be the best pricing policy that we would adopt going forward,” Industry Minister Bandar Alkhorayef said in an interview with Bloomberg TV on Tuesday in Riyadh. The Energy Ministry, which is leading the project, aims to “strike the balance between how we can enable the industry and at the same time also be competitive.”
