Kazakhstan is going to use the floating export custom fees (ECF) to oil exports since March 1, 2016, in order to gain some benefits during the exporting process.

According to Yerbolat Dosayev, the Kazakh Minister of National Economy, ECF will not be required if the price of oil goes down till $25.

"Government will decrease ECF for fuel oil by 30 US dollars per a ton. Of course, this floating system will be systemized to mining and metallurgical complex sector too. Floating fee depends on current changes of oil price in a particular date," Mr. Dosayev said.

"Subsequently, floating tax volume will be bigger if world price of oil increases," the minister noted.

Moreover, Kazakh Minister informed that Ministry is about to establish a period of validity for fuel export (15 euros for the ton) from May 1 to September 1.

Photo: www.trend.az