The need to restore fuel and electricity subsidies is “imperative”, Peo union said on Wednesday.
In a written statement, the union said that the increased fuel prices and cost of electricity amid temperatures that exceed 40 degrees, make it imperative to immediately restore the fuel subsidy and the electricity consumption tax subsidy.
“Just as we had warned when we spoke about the consequences, costs have been rising ever since the government scrapped these measures,” the statement read.
In a period of prolonged price hikes in basic consumer items, and with interest rates constantly rising, the government’s decision to remove the minimum targeted measures that had been taken, has particularly affected the living standards of low- and middle-income earners, pensioners and vulnerable groups, Peo added.
The union pointed out that this is something it had underlined in a previous statement, as the island entered the summer with very high temperatures and increased electricity consumption.
“The vast majority of consumers today are anxious about the electricity bills that will be issued in the coming days, sure that they will be asked to pay exorbitant amounts that they are unable to pay,” the statement added.
The union reiterated that the implementation of an integrated package of support measures for low-income households, low-income pensioners and the public is an immense social need, in the face of the ongoing wave of inflation and the increased cost of borrowing.
Some more urgent requirements according to Peo are the taxation of windfall profits of energy companies and banks and the use of resources to introduce support plans with socio-economic criteria for those with housing loans, the expansion and improvement of the housing policy, as well as the introduction of additional support policies of the working family.