Government Slashes Fuel Taxes to Ease Economic Burden
In a swift move to cushion Ghanaians from the escalating cost of living, the Cabinet has directed the Finance and Energy Ministries to remove selected fuel levies and taxes effective April 16. The decision, announced by Government Spokesperson Felix Kwakye Ofosu, aims to mitigate the impact of rising global oil prices triggered by the Middle East conflict.
According to #JoyNews, the removal of these taxes is expected to bring significant relief to consumers, who have been grappling with soaring fuel prices in recent weeks. The National Petroleum Authority had earlier raised mandatory minimum price floors, pushing petrol prices up by 15% and diesel by 19%.
The government’s intervention is seen as a timely response to the growing concerns of households and businesses, which have been struggling to cope with the increasing cost of transportation and goods. The Transport Minister has been instructed to fast-track the deployment of newly acquired Metro Mass buses along high-traffic corridors, with fares set below those charged by private operators.
In a statement, the NDC Cadres hailed President Mahama’s directive, describing it as a “people-centered approach” to economic management. The move is expected to stimulate economic activity, protect purchasing power, and support local businesses.
The suspension of fuel taxes will be reviewed after an initial four-week period, with the government closely monitoring global developments to determine the next course of action. The Africa Centre for Energy Policy has cautioned that removing fuel levies may shift the cost to the public, highlighting the need for a broader national discussion on petroleum taxation.
Source: #GhanaNews
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Author: Stella Sunu
