Opinions Fri, 19 Sep 2008

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Re: Ghana's Economy Is In Safe Hands

In the Business News of Saturday, 13 September 2008 on Ghanaweb, we were fed a plethora of lies by the NPP political campaign machine.

These lies included the following figures:

Prices (¢) per Gallon

Product Mar 1983 (¢) 6th Jan. 1993 (¢) April 2000 (¢) September 2008 (¢)

PREMIUM 12.30 1,598 6,400 53,339

GASOIL 8.50 1,359 5,963 54,000

KEROSENE 5.0 1,125 5,963 51,075

Cumulative Percentage Increment in Petroleum Prices

Product 1983 - 2000 2001 – 2008

Petrol 51,932% 733%

Gas Oil 70,053% 806%

Kerosene 119,160% 757%

Yearly Average Petroleum Price Increments

Product 1983 - 2000 2001 - 2008

Petrol 2,885% 105%

Gas Oil 3,892% 115%

Kerosene 6,620% 108%

Average Nominal Crude Oil Prices

1983-2000 2000 - 2008 $19.8 $46

Moreover the story from Trunk News found Mr. Baah Wiredu, Minister of Finance and Economic Planning in the 12th of September 2008 edition of the Daily Graphic worth quoting. It claimed that he was modest about the increment in petroleum prices (2,800% per annum) during the 19 year rule of the (P)NDC.

We are told that precisely, the cumulative increment was well over 51,900% as compared to the well-managed economy under the Kufuor-led NPP administration, which has seen an increment of just over 100% per annum.

This Trunk News slant is misleading and must be corrected directly.

We would like Ghanaians to know that the PNDC was a Liberal-Conservative Government, which spawned both NDC and NPP. Both parties therefore in their roots share the 51,900% increment. Moreover, any attempt to separate the NDC and NPP in terms of economic policies and macroeconomic prices is a free market fraud. There is none.

The Ghanaian Majority remain poor. These percentages mean nothing. The Conservative-Liberal Consequences remain the same for all.

We call on all to reject the preposterous argument.

It is time the Ghana Statistical Service under the able leadership of Dr. Grace Bediako is properly funded to provide national figures that cannot be subject to such political chicanery.

From: Kwami Agbodza

Columnist: Agbodza, Kwami

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