Govt of Ghana told to explain how much windfall has been made from oil

The Government of Ghana has been told to tell Ghanaians how much has been accrued from higher-than-budgeted oil prices.

The government has also been asked to explain why it is not using part of it to subsidise pump prices that threaten the economy and livelihoods.

Tus comes at a time the Minority in Parliament has sked the government to cushion Ghanaians with the Price Stabilsiation Recovery Levy, in the face of the economic challenges.

Member of Parliament for Yapei Kusawgu John Jinapor has asked the government to use parts of the petroleum resources to subsidize fuel.

He also said the government can rely on accumulated funds from the Price Stabilization Recovery Levy, to support Ghanaians in this difficult moment.

Addressing a press conference on the rising cost of fuel in Ghana, in Parliament on Wednesday November 2, the former Deputy Minister if Energy said “In this difficult moment if it means government has to  use part of petroleum resources to subside fuel, let them do that.

“Moreover, there is a price stabilization recovery levy, it is there to subside fuel, it has accumulated a lot of money and they should apply that money.”

In a tweet, the Director of Research at the Institute of Economic Affairs (IEA) Dr John Kwakye said “It is in the interest of Gov’t to tell us how much windfall they have made from higher-than-budgeted oil prices.

“And why they aren’t using part of it to subsidise pump prices that threaten the economy and livelihoods.”

By Laud Nartey||Ghana

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