Government to suspend ‘nuisance’ taxes on petroleum products

By: Nathaniel Nartey
Facebook: Nathaniel Nartey
Twitter: @Annertey_Nartey 

The Ministry of Energy says it is working with the Ministry of Finance to suspend some taxes that contribute to increases in fuel prices.

Head of Pricing at the National Petroleum Authority, NPA, Abass Ibrahim Tasunti says the government’s decision to suspend some levies on fuel prices is a response to further expected hikes in fuel prices.

According to him, the government took the decision to cushion Ghanaians from the harsh realities of the pandemic.

In an interview with GBC News, Mr. Tasunti explained that the continuous hike in fuel prices in Ghana is as a result of the increase in global prices of crude oil.

“What government can do with the fuel prices is to look at some of the taxes on the (petroleum) products because that is where it has control and that’s why the Minister (of Energy) is saying government is looking at reducing some of the levies in the price build-up so that the impact we will be having from the world market will be minimized.

On the issue of the continuous hike in fuel prices despite the discovery of oil in Ghana, Mr. Tusanti said “even with countries that produce their own oil, they do not set their own prices so oil is a global commodity so irrespective of what happens, the price of the oil remains the same”, according to Mr. Tasunti.

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