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05.09.2019 NDC News

Petroleum Price Hikes Unacceptable — NDC

By News Desk
Sammy Gyamfi
SEP 5, 2019 NDC NEWS

The opposition National Democratic Congress (NDC) has described the recent surge in the prices of petroleum products at the pumps as “unacceptable” and called on the government to immediately scrap the recent increase in the Energy Sector Levies.

According to the party, Ghanaians were already experiencing “excruciating hardships”; therefore, increasing fuel prices at such a time would amount to the government being insensitive.

The NPA’s directive was in line with what was announced in the supplementary budget presented by the Finance Minister, Mr Ken Ofori-Atta.

Based on the revision, petrol will witness a ¢0.20 adjustment while diesel will also attract a ¢0.20 jump in price per litre.

Pump prices have shot up from GH¢5.19 per litre to about GH¢5.39 per litre, representing a 3.7 per cent jump in prices at the pumps.

The increase is as a result of the Road Fund Levy, Energy Debt Recovery Levy, as well as the Price Stabilisation and Recovery Levy which have been increased by 20 per cent.

Already, the Chamber of Petroleum Consumers-Ghana (COPEC-Ghana) has called on the government to reverse and withdraw the recent tax increment on petroleum products.

No basis
Per the NDC statement, the increments were without basis.

The party said the President Nana Addo Dankwa Akufo-Addo-led government had benefited so much from petroleum revenue and that it had no business increasing it.

“It is worth noting that the Akufo-Addo government has realised more revenue from the petroleum sector than any other government in Ghana’s history. In terms of oil revenue alone, this government in 2017 and 2018 accrued GH¢2.3 billion and GH¢4.5 billion respectively, with a projected GH¢6 billion for 2019, all as a result of the huge investments made by the erstwhile Mahama/NDC administration in the oil and gas sector,” the statement from the NDC said.

---graphic.com.gh

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