Prices of petrol, diesel, kerosene and pre-mix fuel are to go up by ?2,900 per gallon. This means petrol will be sold at almost ?23,000 a gallon, with kerosene and pre-mix fuel being blown up to ?20,000 a gallon. These proposals are ”buried” in the budget statement, presented to Parliament last week by Finance Minister, Yaw Osafo-Maafo.
It will be recalled that the first major economic policy introduced into the country when the New Patriotic Party (NPP) took over power was to increase the price of fuel by over 65 per cent. The excuse offered at that time was that of raising money to pay outstanding debts at the Tema Oil Refinery (TOR).
So Ghanaians were asked to cough ?10,500 to pay for a gallon of petrol. Then came the “biggest blow” of all, an unprecedented price increases of fuel, which sent petrol price to an unbelievable high of ?20,000 a gallon, only last January.
The excuse again was that of settling old debts, as well as achieving full cost recovery of the petroleum products.
To back the false claims, a Kindergarten-type of advertisement was put on the screens to explain the need for the price increases and the “tall” debt, which had to be mowed down, perhaps, if Ghana should ever observe a March 6, as a National Day. Now, “already” hidden on Page 136 of this year’s Budget Statement appears one of the strongest proposals — that of a Debt Recovery Levy, which is to be imposed on the use of petroleum products.
Going further on, on Page 164 to be precise, one comes across the following: “To ensure the achievement of full cost recovery, as well as help pay off the accumulated debt of TOR over time, a Debt Recovery Levy on petroleum products, at the rate, not exceeding ?640 per litre (?2,900 per gallon) across board, will soon be laid before Parliament. “The introduction of this levy will yield about ?150 billion”.
Already, the heavyweight brought on the head of Ghanaians, following the recent fuel price increases, is breaking the necks of all — both transport owners and passengers.
Blows over transport fares continue, especially in the rural areas, where the so-called approved 40 per cent increase in fares, means nothing to transport owners, who cite the increase in the cost of spare parts, and that of insurance premiums and other ‘overheads’, as an excuse for charging higher fares. Prices of foodstuffs have almost doubled and one wonders how the ordinary Ghanaian can afford even half a meal, a day.
Source: GhanaWeb
