The Chamber of Petroleum Consumers-Ghana, COPEC, has proposed a solution it describes as the funnel arrangement to help control fuel prices in the long term.
Under the arrangement, the Chamber suggests that instead of Bulk Oil Distributors, BDCs, importing petroleum products in fragments, the country should rather aggregate the volumes required over a period and import in bulk.
In an interview with the GNA, the Executive Secretary of COPEC, Duncan Amoah, said the proposed policy would also ease the demand for forex on the part of the BDCs and help to reduce the depreciation of the Cedi.
He added that aggregated importation would help to price fuel for at least in the next three months at a constant figure instead of the current fluctuations in prices.
Mr. Amoah said the Gold for Oil Policy is not the solution to the instability in fuel prices, adding that the Policy may create additional layers in the value chain that could compound the problem.
He urged the Economic Management Team and the Bank of Ghana to use the sale of the gold to stabilize the Cedi so that every sector that relies on Dollars would benefit.
