Mr Deputy Speaker, Sir, I am informed that the State Trading Corporation had launched an Open International Bid for the current supply of white oil, on the Government e-Procurement Portal on 16 April 2024, namely Mogas, Gas oil, Jet A-1 and Marine Gas Oil. Seven bids have been received and further to an evaluation exercise by the STC, the contract for the supply of white oil was awarded to Sahara Energy Resources Ltd., the substantially lowest, technically responsive bidder with respect to the premium which comprises the supplies margin, freight costs, insurance and other ancillary costs at loading and unloading ports, including port charges, deviation, bunkers, tank cleaning and preparation and security team fees if necessary and contamination risks. The total price paid by the STC for each consignment is the premium plus the reference flat price for the product which varies daily. Mr Deputy Speaker, Sir, with respect to part (a) of the question, I am informed that the duration of the contract is for the period 01 August 2024 to 31 July 2025.

67 With respect to part (b) of the question, the annual contract for the premium was estimated at USD 57.17 million, equivalent to Rs2.66 billion, and the total contract amount was estimated at USD 598.91 million, equivalent to Rs27.87 billion, which comprise the reference flat price plus the premium.

Do you have a supplementary question?

Thank you, Mr Deputy Speaker, Sir. Can the hon. Minister confirm whether the STC has launched a new tender exercise recently?

Mr Deputy Speaker, Sir, I am informed that on 11 April 2025, the STC launched an Open International Bidding exercise for the supply of white oil for the period of 01 August 2025 to 31 July 2026. At the opening of bids on 16 May 2025, 14 bids were received. I understand that the new contract is costing around Rs1 billion less than the present contract.

Last one!

Can the hon. Minister inform the House what is the premium price and the total contract amount of the new contract starting from 01 August 2025 till 31 July 2026 and also of the situation of the Price Stabilisation Account? Thank you.

Concerning the Price Stabilisation Account, I am informed that as at 17 June 2025, the PSA, which is normally used to stabilise the retail prices of Mogas and Gasoil, currently has a deficit of Rs2.8 billion for Gasoil while there is a slightly positive balance of Rs400 m. for Mogas. We must also understand that there was a time where the deficit was around Rs5.2 billion when the previous government was in power.

Hon. Third Member for Pamplemousses and Triolet! SICOM – GROUP PENSIONS DEPARTMENT – RECRUITMENT & FINANCIAL OVERVIEW