El Salvador Introduced Fuel Subsidy of $0.20 per Gallon to Those Who Pay in BTC

El Salvador’s political regime is fully committed to implementing Bitcoin as a payment method.  The current government in El Salvador is working really hard to bolster the adoption of its government-issued Chivo Bitcoin currency. In a recent announcement, the government has decided to give the subsidy of $0.20 per gallon to those who are willing pay the in BTC.

El Salvador’s President announced that those customers willing to via country’s Bitcoin wallets enjoy the price relief on the purchase of multiple goods in the coming time. This petrol subsidy is just the beginning.

He further said that this news is positive news for those who own the country’s native Chivo Bitcoins.

President Bukele announced the news on Twitter on September 30th.  The President further opened up on the development and said that:

“The State Own Chivo BTC officials held talks with one of the country’s largest gas suppliers, they finally reached a conclusion, so from tomorrow, their station will start offering the sub $0.20 cost cut.” This has been considered as massive relief for customers in current situation where the world’s economy being pushed back by the Covid-19.

However, this rebate is only for the local citizens and companies. Moreover, there is no limit to this discount when it comes to the locals.  President Bukele also talked about the diverse impacts of this rebate policy.  He added that this discount will ease of the financial pressure on customers due to the rise of petrol prices in the international market. It will also reduce the transportation costs in the country. Moreover, President Bukele said that this is not the only rebate policy country has introduced, the government is also planning multiple other policies to bolster the use of Chivo Bitcoin.

Despite the relief being announce by the government, there are multiple locals sources claimed that users are unconvinced about the subsidy and its benefits for the public.

The citizens seem convinced that government will settle the rebate by implementing more taxes. At the end of the day, people have to pay for this rebate. There were multiple tweets where local El Salvadorians said that they cannot trust this news. Moreover, a vast majority of the people have also criticized that why the government has offered the rebate only to those paying via Chivo bitcoin. They further added that offering rebates only to those paying via Chivo bitcoin shows the government’s discriminatory behavior towards the citizens.

However, President Bukele said that government has also approved the fund that will bring in the stability in gas prices and will benefit the people. However, the current subsidy plans is the part of government’s strategic planning to bolster the user of the country’s native bitcoin.