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03.06.2020 Oil and Gas

BOST Margin: While Akufo-Addo Is Giving Reliefs, He Clandestinely Increased Levies, Taxes And Margins — Minority

BOST Margin: While Akufo-Addo Is Giving Reliefs, He Clandestinely Increased Levies, Taxes And Margins — Minority
LISTEN JUN 3, 2020

The Ranking Member on the Mines and Energy Committee of Parliament, Adam Mutawakilu is demanding on government to immediately withdraw the increment in the BOST margin.

He said the decision to increase the margin at this time amidst the COVID-19 pandemic is unfortunate situation that would overburden Ghanaians who are already hard-hit by the covid-19 pandemic

He said the Minority in Parliament is concerned that while the government appears to be granting some reliefs to individuals and businesses due to COVID-19, it has been secretly introducing new levies and taxes that places extra burden on Ghanaians.

“We’ve come to realize as a Minority that while President Nana Akufo-Addo is giving reliefs to Ghanaians, he clandestinely went behind to increase levies, taxes and margins. We call on President Akufo-Addo to as a matter of urgency to reverse this 100 percent increase in BOST margin so that Ghanaians who are burdened by COVID-19 will be able to make a good living,” he said.

The National Petroleum Authority (NPA) in a statement over the weekend said the BOST Margin which used to be three pesewas per litre of petroleum product has been increased by an additional three pesewas.

The regulator in the statement said the increment was approved by Cabinet.

“We write to inform you of a review of the BOST Margin in the Price Build-Up (PBU) of petroleum products effective 1st June 2020. This is in line with a decision taken by Cabinet and communicated to the National Petroleum Authority (NPA) by the Ministry of Energy,” the statement said.

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The implication is that Ghanaians from 1st June 2020 started paying more for fuel at the various filling stations.

The BOST Margin has remained at 3 pesewas per litre since 2011.

In December 2019, it almost went up to 6 pesewas per litre but the decision was quickly reversed following intense pressure on government by opposition parties as well as CSOs such as the Chamber of Petroleum Consumers (COPEC).

---citinewsroom

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