Skip to main content

Scrap taxes on fuel to alleviate economic hardship — NDC

 


The National Democratic Congress (NDC) has called on the government to scrap the newly introduced taxes on petroleum products to help bring down the cost of fuel and reduce the economic woes of Ghanaians.

It said it was urgent for the government to scrap the special petroleum tax (SPT) of 46 pesewas, the energy sector levy of 20 pesewas and the sanitation levy of 10 pesewas on a litre of diesel and petrol as well as the new increase of 18 pesewas on a kilogramme of liquefied petroleum gas (LPG).

The National Communications Officer of the NDC, Sammy Gyamfi, made the call yesterday at a press conference in Accra.

He also called for the review of other existing taxes on fuel products in line with proposals submitted to the Ministry of Finance and Energy by the Chamber of Petroleum Consumers (COPEC) and other stakeholders in the downstream petroleum sector.

Unbearable

According to Gyamfi, the call for immediate action from the government was necessitated by the high and unbearable cost of living that Ghanaians were experiencing under the President
Nana Addo Dankwa Akufo-Addo’s government which was occasioned by the steep increases in the prices of the petroleum products over the last four and half years.

Only yesterday, the price of diesel and petrol was increased by 7 per cent. This is the ninth consecutive time in the year 2021 alone that the prices of petroleum products have gone up,” he said.

Mismanagement

Read also: Ghana is in crisis – Kwabena Duffuor

Gyamfi explained that the “rampant and persistent” increase in the prices of fuel products was an indication of the insensitive and bad leadership of the government and not as a result of the increase in crude oil on the international market as claimed by the government.

Gyamfi said the introduction of “regressive and draconian” taxes by the President Akufo-Addo’s government which berated former President John Mahama for “over-taxing” Ghanaians and promised to move Ghana from taxation to production when elected, smacks of deception and insensitivity of “monumental proportions”.

The cascading effect of these draconian tax measures have, among other things, led to an escalation in the prices of fuel products, transport fares, building materials, food products and other commodities on the market, without a commensurate increase in incomes, thereby making cost of living unbearable for the vast majority of Ghanaians,” he said.

Stability

He said should the government listen to the call by the NDC and act on its advice, the prices of diesel and petrol would come down drastically.

This will stabilise the ever-rising prices of general goods and services and go a long way to ameliorate the plight of suffering Ghanaians, but should government fail to heed our wise counsel as they always do, prices of general goods and services will continue to soar, hardships in the country will continue to worsen to gargantuan levels and all of us, irrespective of our political affiliations, except the few privileged ones in government, will continue to suffer,” he said.

Comments

Popular posts from this blog

MTN Ghana & MTN MoMo CEOs win laurels at Ghana CEO Awards

  The Chief Executive Officer of MTN Ghana, Selorm Adadevoh ,   has been adjudged  CEO of the Year  –  Telecom  at the  2 nd  edition of the  Ghana CEO  Vision  and  Awards   held  in Accra. At the same event, the CEO of Mobile Money Limited (MTN MoMo), Shaibu Haruna was also adjudged CEO of the Year – FinTech Service Provider. Selorm  Adadevoh’s award  is in recognition  of  his   achievements   in the areas of   sustainability, leadership excellence, innovation and others  in the telecoms space  which  has contributed to  job creation to support the  growth of Ghana’s economy. Patrick Afari (r), General Manager, Supply Chain Management and General Services receiving CEO of the Year – Telecom Award on behalf of Selorm Adadevoh Receiving the award on behalf of Selorm, Patrick Afari, General Manager, Supply Chain Management and General Services ,  expressed appreciation to the organizers for the award. He  noted that  th e  award will go a long way to inspire MTN to do more for Ghanaian

EB-ACCION DISBURSES US$15 MILLION

By Fred SARPONG Ecobank-Accion (EB-Accion), a partnership between Ecobank Ghana Limited and Accion International has disbursed amount to the tune of $15 million to over 36,000 borrowers in Micro, Small and Medium Enterprises (MSMEs) sector in the country, since the institution was set up barely six months ago. Frances Adu-Mantey, the Managing Director of EB-Accion disclosed this to Business Week in Accra last week during the official opening of Accion Hub headquarters in Africa. The institution’s current portfolio stands at GH¢4 million. She stated that currently, EB-Accion have over 6100 customers who save with them throughout the four branches of the institution. According to her, in order to improve the services of the institution, Ecobank Share Services center will facilitate the technology aspect of the bank by networking all the branches of EB-Accion. Maria Otero, President and Chief Executive Officer of Accion International said that the center’s staff in Accra will provide supp

Amantin & Kasei Community Bank posts impressive growth, with over GH¢1m profit

 Amantin and Kasei Community Bank, at Amantin in the Bono East Region has posted impressive growth in all the performance indicators during 2022 financial year under review. The bank recorded profit after tax of GH¢1,055,662, representing 35.66% more over the 2021 figure of GH¢778.151. This achievement stemmed out of 49.24% gross income growth from GH¢8,143,526 to GH¢12,153,537. Total deposits of the bank went up by 36.20%, changing from GH¢50,959,848 in 2021 to GH¢69,405,591 in 2022. The bank increased loans and advances by 22.15% from GH¢14,128,017 to GH¢17,257,614. Total assets showed an appreciation of 29.32%, amounting to GH¢77,918,288 as against GH¢60,250,693 in the previous year. On the other hand, the bank posted a marginal increase in short term investments portfolio from GH¢24,439,761 to GH¢26,585,698, indicating 8.78% change. The Chairman of Board of Directors, Amantin and Kasei Community Bank, Dr. John Oduro-Boateng, disclosed this during the 18th annual general meeting of