WHAT OPTION TO 17.5% FUEL TAX- ?

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Seth Terpker, Finance Minister.
Seth Terpker, Finance Minister.

A? Deputy Finance Minister, Hon. Ato Forson has questioned what options are available to Ghanaians around what he termed? ?the huge talk on government decision to impose a 17.5% ?Special? Petroleum Tax. ? He asked ?but what option is available??. ?And so for us to have this tax is to make sacrifices to bring down inflation, stabilize the economy for a bright economic outlook. He claimed.

Ato Forson, Deputy Minister of Finance
Ato Forson, Deputy Minister of Finance

He therefore appealed to Ghanaians to bear with them (Ruling government) in these times as Government knows the full effect of the new Special ?Petroleum Tax imposed on Ghana in the 2014 budget. Coupled with a power crisis Ghanaians are reeling under harsh economic times and that Government is working around the clock to find ?solutions to that within the shortest possible time to relieve the burden on businesses and consumers in the country. With the coming on board of the Ghanagas very soon Ghanaians will see a reliable power supply. He added.

It is instructive to recall that since the beginning of the year Ghana has experienced serious power crisis drawing the President to making one statement after the other of ending it. Currently Ghanaians enjoy 12 hour power and 24 hour power outage which the 2015 Budget reveals amongst others has accounted for ? the lowest growth rate since 2007 by registering a 4.6 % growth rate from 9.6% in 2013?

Min Of Energy

Responding to a question of waste with the newly created Ministry of Energy, he drew attention to the growing nature of the sector and its importance to the economy, demanding a more sharper focus. Adding that expenditure lines remains the same, as human resources and logistics etc were going to be shared between the Ministry of Petroleum and Energy.

Answering a question from a journalist, He dispelled the notion that its creation will add more to expenditures. And that it was important not to subsidize fuel for the rich to enjoy while the poor looses out.

The bespeckled Minister acknowledged that the current power rationing is seriously affecting business output and that is why a Chinese loan brought in to help complete the Ghana Gas infrastructure which is piloting gas from Ghana?s oil fields to Themal Plants owned by Volta River Authority (VRA) which will produce up to 110 mega watts of power to relieve many.

Source: Seibik Bugri

 

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