Business News Wed, 5 May 2021

COPEC demands review of deregulation system

The Chamber of Petroleum Consumers(COPEC) has demanded an urgent review of the country’s deregulation system for the petroleum sector to cushion the consumer.

The demand comes despite the eight pesewas reduction in the margin of the price build-up of fuel.

Speaking to Starr News, Executive Director of COPEC Duncan Amoah who commended the ministry for the initiative said work must begin immediately to further remove taxes that burden consumers.

He said “we’ve had ministers of energy in the past, they’ve only paid lip service. You talk about these things, sometimes, they even come out with the posturing that says there’s nothing wrong.

“So, what we are saying is that given his assurance and what we have seen today it is our hope that he will continue with this engagement, he will continue with the decision to review the deregulation program holistically.”

Mr. Amoah explained that this was pertinent “in order that whatever bloated taxes that we have within the system, whatever bloated margins that we have within the system, whatever bloated levies that we have on the fuel price build, at least stakeholders would have our say and something could be done about it.”

He added “we’ll be happy that he continues this way. If he doesn’t and again he sits and also starts the usual excuses that others have made, I’m quite certain that Ghanaians would not be happy at all.”

“Because where we are is a very difficult time and nobody I know in this country is happy with the rate at the levels of increases that we have seen just this year.,” he ended.
Source: starrfm.com.gh
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