The Minority Group in Ghana’s Parliament is asking the Akufo-Addo administration to use part of the over GH¢8 billion revenue accrued from petroleum products to cushion petroleum consumers against the current price hikes.
According to the Minority, the government has received over GH¢8 billion from petroleum resources in less than three months, as against its GH¢6 billion projection for the year.
Speaking to journalists on Wednesday, November 2, 2022, the Ranking Member on the Mines and Energy Committee of Parliament, John Jinapor urged the government to act in halting the escalation of fuel prices which he bemoans has seen over 300 per cent increase in less than a year.
“In less than three months, the government has received over GH¢8 billion from our petroleum resources. So in three months, the government has received more than it projected for the whole year, so the government is making supernormal profits. Even the Price Stabilization and Recovery Levy, which is supposed to subsidise fuel, the government projected that in the first two quarters, it will receive GH¢269 million and as we speak, from the Ministry of Finance’s record, the government has received GH¢800 million. And so this notion that the government is not making any money is a fallacy.
“The government is making so much money from our petroleum resources. I, therefore, call on President Akufo-Addo and the outgoing Minister for Finance that they should do something about this pricing increment. They should sit up and think outside the box and apply these supernormal profits to cushion the ordinary Ghanaians.”
Mr Jinapor indicated that the economic crisis worsens by the day as he received calls every day from some of his constituents seeking diverse assistance to enable them to stay afloat.
“I receive calls every day from members in the Constituency from people who cannot even afford one square meal a day…people who cannot even send their kids to school because of the exorbitant fuel prices which are having a cascading effect on food prices and general cost of living.
“We hold the view that the government can do something about the fuel price increment. The government must sit up. The government must do something and the government must cushion the ordinary Ghanaians.”
The price of diesel shot up to GH¢23.49 per litre on Tuesday, according to the latest prices advertised by TotalEnergies at the pumps.
Petrol is selling at GH¢17.99 per litre, while Kerosene is selling at GH¢14.70.
Source: https://energynewsafrica.com
