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Ghanaians Shouldn’t Panic; 3% Fuel Price Increase Is ONLY 10 Pesewas Per Litre   
 
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20-Nov-2014  
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Hon. Cassiel Ato Baah Forson, Deputy Finance Minister
 
 
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Deputy Finance Minister, Hon. Cassiel Ato Baah Forson has called on all Ghanaians to stay calm as the 17.5 per cent increment in the Petroleum price is only applicable to companies that are on VAT registration, using petroleum products.

According to him, commercial drivers are only paying 3 per cent increment in the petrol and a diesel price which is equivalent to 10 pesewas per litre, meaning a gallon which is 4.5 litres will cost extra 45 pesewas per gallon.

The Deputy Finance Minister told Kwame Nkrumah Tikese , the host of Okay Fm’s Ade Akye Abia Morning Show that the impact is not 17.5 per cent on the commercial drivers as many are speculating.

Meanwhile the National Petroleum Authority (NPA) has also explained that the imposition of the 17.5% tax on petroleum products will result in only a 3% increase in petroleum prices rejecting claims that Special Petroleum Tax will mean consumers will pay 17.5% more on petroleum prices.

The Finance Minister, Seth Terkper, on Wednesday submitted a bill to Parliament requesting the approval of a Special Petroleum Tax Policy which will see the introduction of 17.5% VAT on petroleum products.

Parliament has approved the controversial 17.5% Special Petroleum Tax bill by only the Majority Members of Parliament (MPs) after the Minority MPs staged a walkout during a debate on the bill.
 
 
Source: Daniel Adu Darko/ Peacefmonline.com/gh [Email:[email protected]]
 
 

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