Special Energy Tariffs Disclose total amounts raised so far- Stakeholders charge Gov't

At the time the energy levies were introduced, the Volta River Authority owed domestic banks close to 1 billion cedis, making it difficult to obtain finance to purchase gas to power the county’s thermal plants.

  • Published: , Refreshed:
 Head of Research at the Integrated Social Development Centre, Dr. Steven Manteaw play

 Head of Research at the Integrated Social Development Centre, Dr. Steven Manteaw

24/7 Live - Subscribe to the Pulse Newsletter!

Stakeholders in the Oil and Gas sector are asking for full disclosure of total revenues raised from the Emergency Energy Levies.

In November 2015, government introduced the Special Energy Levies also known as the Emergency Energy levies to raise enough revenues from the sale of petroleum products to Ghanaians. The monies were supposed to be used to offset  the debts of the country’s energy providers.

At the time the energy levies were introduced, the Volta River Authority owed domestic banks close to 1 billion cedis, making it difficult to obtain finance to purchase gas to power the county’s thermal plants.

Government  also instituted the special energy tariffs to payback Bulk Oil Distribution companies for unpaid subsidies and forex exchange cushioning running into about 2 billion Ghana Cedis..

After government announced last week that it was ready to pay back BDCs, signalling that it had raised enough  monies from the Special Energy Tariffs, stakeholders from the oil and gas sector have demanded full disclosure of the total amounts raised from the Special Energy Levies so far.

Speaking to pulse.com.gh the Head of Research at the Integrated Social Development Centre, Dr. Steven Manteaw who has been championing the call for full disclosure, said government is being elusive with the disclosure of the total amounts of money raised under the Special Energy Tariffs so far.

“ I have been personally  enquiring from the Ministry of Finance  the total amounts of money that have been raised under the Special Energy Tariffs so far, and they tell me that an Escrow account has been  opened between them and the ECG, which the ECG tells me they know nothing about.”

Dr. Manteaw described the situation surrounding the administration of the energy levies as suspicious. He fears the Special Energy levies may end up like the Tema Oil Refinery levies, which were imposed in perpetuity.   

READ MORE: Finance Ministry misled parliament- Moses Asaga

“ We risk having the TOR Refinery levy situation all over again, where we will be made to pay the Special Energy Levy in perpetuity without full disclosure of the amounts collected.” Dr. Manteaw said.

When asked how the total revenues generated under the energy levies will be accounted for, Dr. Manteaw revealed the Ministry of Finance are the sole custodians of the account, hence the only ones to make it open, which they are currently reluctant to do.                                                                                                                                                                                                                                                                                                                                                                                              

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos




Top Articles

1 Software Scandal EOCO indicts SSNIT managers over $72m software scandalbullet
2 Salaries In 2018 Here are the dates public workers will be paid in 2018bullet
3 David Ampofo Writes Is Ghana's cashew another cocoa?bullet
4 In Accra Susu collectors give gov’t 1 week ultimatum to stop NPP...bullet
5 Collapsed Banks Assets of UT Bank and Capital Bank for salebullet
6 Excise Tax Stamp Act Gov’t threatens to sanction businesses...bullet
7 NPP Government Nana Addo nominates Dr Agnes Adu as MD of GTFCbullet
8 In Singapore Government to pay bonus to all citizens after...bullet
9 Taxes In Ghana 3% VAT flat rate takes off in July 1bullet
10 Retirement How to calculate your SSNIT pensionbullet

Top Videos

1 New Discovery Ghana discovers new mineral, lithium in commercial quantitiesbullet
2 Money Alert Meet Africa's richest womanbullet
3 Forbes 2018 Africa's billionaires rich listbullet
4 Support Finance minister buys Kantanka carbullet
5 Plane Crash Starbow suspends operations following plane crashbullet
6 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
7 Bozoma Saint John 10 quotes from Uber top official, Bozoma,...bullet
8 Vodafone adbullet
9 Entrepreneurship How to be resourceful as an entrepreneurbullet

Business