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Government’s Position On Petrol Price Not Tenable — NPP   
 
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22-Dec-2014  
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The New Patriotic Party (NPP) has rejected government’s explanation that it owes over GH¢400million to the Bulk Distribution Company (BDC), hence its inability to reduce the price of petrol.

According to a statement signed by Nana Akomea, the Director of Communications of the party, the excuse was untenable.

The statement pointed out that whatever debt that had arisen between the government and the BDCs had not been caused by the rise in price of oil or any other event over which the government had limited or no control.

The statement observed that the debt had arisen largely because of foreign exchange losses caused by the loss in value of the cedi vis-a-vis the dollar for most part of the year.

The loss in the value of the cedi, according to the statement, was entirely within the economic and fiscal management of the government and in effect, the losses and the debt to the BDCs had arisen largely because of the government’s own inadequacies.

According to the statement, ‘’ To pass on the entire burden of repaying this debt on the innocent Ghanaian consumer is grossly unfair.’’

It pointed out that with the nearly 50 per cent fall in the price of oil, and about 30 per cent fall in the price of the dollar since July 2014, the Ghanaian consumer should not be paying more than GH¢11 for a gallon of petrol today.

“Now, the Ghanaian consumer is paying about GH¢5 or GH¢6 extra for every gallon of petrol bought,’’ it stated.

The statement further said even in Africa, Sudan sold a litre at 0.73p; Egypt at 80 pesewas a litre, Tunisia GH¢1. 69p, Botswana GH¢2. 39p per litre and Republic of Congo GH¢2. 71p per litre.

The rest are Lesotho GH¢2. 62p per litre, Namibia GH¢2. 62p, Cameroon GH¢2. 87p, while Ghana is selling at GH¢3.39p a litre.

A caring government, according to the statement, could easily reduce the price by GH¢3 or GH¢4 on a gallon and that would bring the much-needed relief to the hard-pressed Ghanaian consumer, while still giving the government some over-recovery towards paying the debt.

The statement, therefore, called on the government to show a caring face to Ghanaians and reduce petrol prices now.
 
 
Source: Daily Graphic
 
 

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