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Fuel prices: NPA’s collection of BOST, UPPF levies, others illegal – Ato Forson

Business & Finance Fuel prices: NPA’s collection of BOST, UPPF levies, others illegal  – Ato Forson
OCT 27, 2021 LISTEN

A Ranking Member on the Finance Committee of Parliament, Cassiel Ato Forson, has threatened to take legal action against the National Petroleum Authority (NPA) for failing to seek parliamentary approval before the collection of the Bulk Oil Storage and Transportation Company Limited (BOST) margin, Fuel Marking Margin and the Unified Petroleum Pricing Fund (UPPF) levies.

He says these levies have been increased astronomically, leading to the rampant increase in fuel prices.

“Levies such as BOST margin, UPPF, and fuel marking margin are not governed by any legislation. In fact, since the NPP took office, the BOST margin has been increased by 200%. The UPPF margin has increased by 167%. The fuel marking margin has also increased by 233%. ”

“These margins must be approved by an act of parliament through the Fees and Charges and Miscellaneous Legislative Instrument. The NPA is collecting these fees illegally. So they are acting with impunity. So the NPA should stop collecting those fees because they are illegal”, Ato Forson told the media.

His comments come on the back of the Minority’s demand for the government to consider the suspension of the Special Petroleum Tax and a review of the sanitation levy in the 2022 budget.

The caucus believes this will help address the incessant increase in fuel prices .

According to the minority, taxies and levies contribute to almost 40% of the final ex-pump prices of fuel.

President Akufo-Addo granted permission to the National Petroleum Authority to zero the Price Stabilization and Recovery Levies on petroleum products for two months, of which the NPA says measures are underway to implement on November 1.

But addressing the media, Ranking Member on the Energy Committee of Parliament, John Jinapor, said the intervention is woefully inadequate to cushion Ghanaians against the hardship caused by the rise in fuel prices.

A litre of petrol and diesel is now selling at GH¢6.80 at the various filling stations.

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