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Use Stabilization Fund to salvage the economy – John Gatsi to government

John Gatsi, Dean Of The University Of Cape Coast (UCC) Business School Dean of the Cape Coast University Business School, Professor John Gatsi

Mon, 21 Mar 2022 Source: starrfm.com.gh

The Dean of the Cape Coast University Business School, Professor John Gatsi, has urged the government to tap into the Stabilization Fund to ameliorate the current condition of Ghanaians.

Speaking to Lily Mohammed on Starr Today, Mr. Gatsi said government should employ structures put in to cushion the Ghanaian people in times of crisis and save them from hardship.

“When you look at the formula for Petroleum Pricing, there is a Stabilization Fund or Levy put there. The purpose for that Stabilization Levy is that when we get to the periods of rising prices, then you active the Fund to support prices to be moderate for Ghanaians...So this is the time for us to call on the government to activate the fund. The essence of that levy was to put asphalt on the formula so that Ghanaians can benefit from it. So something can be done on the pricing,” he stated.

The Cape Coast University Business Dean disclosed that the government has brought the current financial challenges on itself as a result of mismanagement.

“Government is looking at all those levies build up into petroleum pricing are sources of revenue. So we are in a period where the government is in need of revenue and the government has actually engaged in management that resulted in financial distress," he added.

“So the government thinks that all those revenues should be available to them to be used in dealing with the difficulties of the economy,” Prof. Gatsi disclosed.

Source: starrfm.com.gh
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