BISHKEK, Kyrgyzstan, October 2. Singapore-based Nanolumi Pte. Ltd. will implement mandatory fuel marking in Kyrgyzstan, Trend reports.
According to the Center for Public-Private Partnership of Kyrgyzstan, the public-private partnership project aims to enhance tax revenues, improve fuel quality, combat the shadow economy in the fuel market, and protect the environment.
The initiative will entail the acquisition of markers for incorporation into gasoline and diesel, as well as specialized analyzers for testing and monitoring purposes.
The marking system will help identify fuel that is illegally imported or sold domestically without taxation. Nanolumi will serve as the private partner for this project, which will operate under a "sandbox" framework. The total funding for the initiative is $4.02 million without government co-financing.
The center noted that it places special emphasis on innovative projects and actively works to attract private investments into initiatives aimed at increasing tax revenues and reducing the shadow economy.
On October 1, the official launch of the fuel marking system using molecular markers took place at the oil plant in Kant.