6
Business News Mon, 7 Feb 2022

Fuel Prices: Let’s suspend sanitation, stabilisation levies – Opare Addo

The National Democratic Congress (NDC) has called on government to suspend some taxes on petroleum products as a remedial measure to cushion consumers against the continuous hike in fuel prices.

The National Youth Organiser of the party, George Opare Addo, at a media briefing in Accra on Monday, February 7, 2022, urged government to suspend the Price Stabilisation and Recovery Levy, and the Sanitation and Pollution Levy on petroleum products to reduce the percentage of taxes on the total price build-up.

H said failure on the part of government to keep fuel prices at affordable prices could badly affect the livelihoods of the people.

“The country in recent times is rolling back on its progress. Times are hard for young people and families alike."

“...we demand that the Price Stabilisation and Recovery Levy be suspended without fail and the irrelevant Sanitation and Pollution Levy all added to the petroleum price build-up be cancelled,” he said.

Fuel prices have gone up by at least 50 pesewas per litre at the pumps since February 1, 2022.

Petrol and diesel are currently being sold at an average of GH₵ 7.3 and GH₵ 7.4 per litre respectively.

The hike has been blamed on rising cost of Brent crude on the international market, with some analysts projecting that fuel prices could hit GH₵8.0 per litre by March this year if the situation on the world market progressed.

The National Youth Wing of the NDC said it would on Thursday, February 10, 2022, stage a demonstration dubbed “Yentua,” to wit “We won’t pay” to oppose the proposed Electronic Transactions Levy (E-Levy).

Mr Addo said the rationale behind the demonstration was to among others, support minority in parliament to resist the passage of the E-Levy Bill, demand a resolution of the prolonged industrial action by the University Teachers Association of Ghana (UTAG), and payment of the gratuities of NABCO trainees.

“The NDC is not against taxes. The Government must tax the right sources. Last year alone, mobile money transactions exceeded $500m. What it simply means is that they (Telcos) made more profits.

“Financial institutions are making abnormal profits. What the Government needs to do is to tax financial institutions and financial companies. The extractive industry is still available,” he noted.

Mr Bernard Monarh, Convener for the pressure group, Justice for Ghana Movement, said the Group would persistently resist the E-Levy until it was completely withdrawn from Parliament.

He said the tax had the potential to collapse Ghanaian businesses, particularly those that relied on mobile money for daily transactions.

“We believe that taxes are levied on profits, gains on capital, interests, and other incomes. Taxes are not levied on the working capital,” he said.

Mr George Kofi Aboah, a convener of the Coalition of Concerned University Students, appealed to the Government to urgently resolve the impasse with UTAG for academic activities to resume.

“When two elephants fight, it is the grass that suffers. The students are suffering. We’ve paid exorbitant tuition and hostel fees and yet our lecturers are on strike for weeks,” he lamented.
Source: GNA
Related Articles: