By Naa Dzagbley Ago
Government has announced that with effect from the first of April, 2022, it will reduce the prices of fuel by 15 pesewas per liter.
The move is to mitigate the impact of rising fuel prices for the next three months.
Speaking at a news conference in Accra on measures outlined to stabilize the economy, on March 24, 2022, the Minister of Finance, Ken Ofori-Atta said government with the Bank of Ghana will ensure constant supply of fuel to manage the rate of ex-pump prices increase by liaising with the Central Bank to ensure there is adequate foreign exchange for such purposes. He said the current happenings are not peculiar to Ghana, but the entire global economy.
With regard to expenditure cut, Mr. Ofori-Attah announced an additional cut of 10% in the Metropolitan Municipal and District Assemblies expenses for the end of 2022 as well as a 50% cut in fuel coupon allocations for all political appointees, heads of government institutions and State-Owned Enterprises.
The Minister of Finance disclosed that the government will also by the end of next month begin the collection of the revised property rate, the passage of the E-levy bill among others as means of increasing revenue to support the budget.
