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Business News Wed, 7 Apr 2021

Govt assures Ghanaians of availability of petroleum products at competitive prices

The Government of Ghana has assured the people of Ghana that it will ensure the availability of petroleum products on the market at all times at competitive prices.

Dr. Bawumia also assured stakeholders in the petroleum sector that the government of President Nana Addo Dankwa Akufo-Addo will create an enabling environment for their businesses to thrive.

He was speaking at the official launch of the retail fuel monitoring system organized by the National Petroleum Authority in Accra on Wednesday, April 7.

The event was attended by officials of the Ghana Revenue Authority, Oil Marketing Companies, and the Ministry of Fisheries.

The “GRA and NPA will have to get together and harmonize the credit they offer to the OMCs,” he said.

He added “Let me assure all players in the petroleum downstream sector that the government of His Excellency Nana Addo Dankwa Akufo-Addo will continue to create the enabling environment for your businesses to thrive.

“To the consuming public, the government will continue to ensure the availability at all times the quality petroleum products at competitive prices.”

Dr Bawumia further indicated that the issue of premix fuel diversion has been a major concern to this government.

He said steps have been taken to deal with the menace.

“One of the critical areas also of concern to government over the years has been the distribution of premix fuel to our fisher folks. The honorable Minister for Fisheries is here and it is a major concern that she will have to address as she starts her tenure. The huge subsidies on premix fuel make it attractive for people in illicit activities to divert the product to retail outlets.

“We are truly concerned when this heavily subsided premix fuel meant for our fisher folks to enhance their economic activities and improved their livelihoods do not actually reach them.

“So, as part of efforts to sanitize the distribution of premix fuel and management of the associated subsidies, the government launched a process that actually digitized the distribution of premix fuel in the country.

“I must commend the NPA for adding to this process the impetus by establishing this fuel monitoring system and I am happy to note that the NPA is already working with plans to extend this fuel monitoring system to the various landing beaches.”
Source: 3 News
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