Home   >   Business   >   Business News   >   201411
17.5% Petroleum Tax Complete Nonsense – K.T Hammond   
 
  << Prev  |  Next >>
 
20-Nov-2014  
Comments ( 0 )     Email    Print
       
 
 
 
 
Related Stories
 
The opposition New Patriotic Party (NPP) has vowed to resist the imposition of 17.5 taxes on petroleum products.

Delivering the 2015 budget statement in Parliament Wednesday, Finance Minister presented a 17.5 Special Petroleum Tax under a certificate of urgency for Parliamentary consideration.

The bill, which has since been passed into law, will see an increase in the prices of petroleum products in spite of the decline in oil prices in the world market.

This has generated heated debate nationwide with many vowing to resist it with all seriousness.

In support, the Member of Parliament for Adansi Asokwa in the Ashanti region, Kobina Tahir Hammond said the decision to impose the 17.5 tax defies logic.

In intimated “this is complete nonsense, a criminal offence” and an attempt to exacerbate the untoward hardships on Ghanaians.

The former deputy energy minister explained that during the erstwhile Kufuor regime when crude oil was selling at $147 per barrel on the world market “we sold it at GH˘53 cedis; this time it is $80 per barrel and it is being sold at GH˘153. What kind of crazy mathematics is this?

The NPP MP who is also the ranking member on Mines and Energy in Parliament expressed shock at the insensitive conduct of the Mahama-led administration.

KT Hammond urged government to recoup the numerous dubious judgement paid to cronies and stop unburdening the impoverished Ghanaian.
 
 
Source: Adomonline.com
 
 

Comments ( 0 ): Post Your Comments >>

 
 
 
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
 
 
Featured Video