Shillong: The Chief Minister of Meghalaya Conrad Sangma on Wednesday hinted that there wouldn’t be any reduction in Value Added Tax on petrol and diesel in Meghalaya despite record fuel prices.

Speaking to the journalists he said, “The state’s VAT can be adjusted, but we have a much lesser rate compared with neighbouring states.

I cannot comment on the issue right now but all I can say is that our rate is much much lesser”, he added.

CM Sangma said, “We are open to fluctuations in the global market. That is why we see fluctuation in the state fuel price every day and the pricing of petrol and diesel are based on prices at the national and international level,”

Sangma said that the state was under a lot of financial pressure and it may not be advisable at this point in time to look into or decide on the VAT issue.

He said that he will meet the officials of taxation, excise, mining, forest, and transport departments in the next two days and discuss ways of generating more revenue.