Fuel Subsidies Cannot Be Scrapped

The Bank of Ghana says fuel subsidies can only be scrapped when power supply is increased. The debate over whether fuel subsidies should be removed or not has become a topical issue for some time now. Speaking at the launch of IMF’s Regional Economic Outlook report, Governor Dr. Henry Wampah said Ghanaians will oppose any removal of fuel subsidies unless quality improves. “There is a need to increase supply and also quality of service before such subsidies are removed” Dr. Wampah said. “When you bring the removal of subsidies at this stage there is going to be a lot of resistance to it”. Dr. Wampah also said Ghana’s inflation will remain stable throughout the year. Government should divest its stakes in state-owned enterprises through the stock market to deepen the market and broa