The Prime Minister to approve the fuel price indexation mechanism, which will adjust fuel prices periodically to the changes in the exchange rate, global oil prices and the share of the share of imported fuel products in the consumption basket. The mechanism should be designed in consultation with Fund staff, and should include, at minimum (i) the specification of a fuel product price formula, (ii) a rule determining the frequency and magnitude of price changes such as any caps, and (iii) the institutional framework of price setting. MEFP ¶18 
Strengthen energy subsidy reform