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Business News Tue, 16 Mar 2021

Taxes on fuel products short-sighted, lazy – Wereko-Brobby chides government

Energy expert and former Volta River Authority boss, Dr Charles Wereko-Brobby, has taken a swipe at government for the recent taxation on fuel products.

During the presentation of the 2021 Budget Statement to Parliament on Friday, March 12, Mr Osei Kyei-Mensah-Bonsu, the Caretaker Finance Minister and Minister of Parliamentary Affairs, announced government's intention to charge 10 pesewas on a litre of petrol/diesel to manage sanitation and pollution challenges in the country.

But reacting to the development, Dr Wereko-Brobbey who took to his Twitter page posted that the initiative is “shortsighted, lazy and inimical to sustained economic growth.”

“Turning fuel pricing into Ghana’s main revenue basket is short-sighted, lazy and inimical to sustained economic growth,” Dr. Wereko-Brobby’s tweet read.

In a related development, Executive Secretary of the Chamber of Petroleum Consumers (COPEC) has called for Parliament to kick against the government's plans to introduce Sanitation and Pollution Levy, which will charge 10 pesewas per litre of petrol/diesel.

Mr Duncan Amoah noted that Ghanaians were already paying too much for petroleum products and thus should not be overburdened with new fuel taxes.

In a media interview on Monday, Mr Amoah stressed that the country was already losing GH¢1.9 billion annually through fuel smuggling because of loopholes in the petroleum value chain.

He charged government to block such loopholes to salvage the situation rather than introduce the new fuel taxes.



Source: www.ghanaweb.com
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