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Fuel Hikes NPA explains why gov’t cannot afford to reduce fuel taxes

Some drivers hit the streets on Wednesday to demonstrate over the recent hike in fuel prices.

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The National Petroleum Authority (NPA) has explained the circumstances surrounding government’s inability to reduce further the prices of petroleum products.

According to the Chief Executive Officer of NPA, Hassan Tampuli, any attempt by government to scrap the taxes on petroleum products could spell doom for the current revenue structure.

READ ALSO: 5m Ghanaians to be employed under ‘Planting for Food and Jobs’ – Agric Minister

He explained that the taxes have been incorporated into government’s revenue projections for the year and therefore cannot be reviewed.

NPA.png play NPA boss, Hassan Tampuli

“You would agree with me that government has some obligations and these obligations are based on the projected revenue and the revenues that we have accrued. These revenues include the price stabilization and recovery levy. Now that lots of revenue for the government,” Mr. Tampuli said on the Citi Breakfast Show.

“If you are saying that we should remove completely the Special Petroleum Tax, price stabilization levy among others, then you are just asking for the collapse of the revenue as far as government projects are concerned. What government is doing is in a way responding to the needs and concerns of the Ghanaian people by reducing the price figure by 3%.”

His comments come after some drivers joined the Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Workers Union (ICU) on Wednesday to demonstrate over the recent fuel hikes.

READ ALSO: Photos Demo against hikes in fuel prices ongoing

The demonstrators carried placards that read, “Stop the galamsaying in our pockets”; “88% taxes is too much”; “Mr President Why?”; “Drivers, Y’anu Yeho”, among others.

demo2.jpg play Demonstrators 

 

The called on government to review the taxes on petroleum products, insisting the current price of fuel is exorbitant.

However, responding to the calls of the demonstrators, the NPA boss said “government is considering different options aimed at dealing with this situation. So they should be rest assured, they have every right to demonstrate but we are saying that the reason for the demonstration is not as tenable as they want us to believe especially when the prices could have gone way higher than it has but for the intervention of government and there are records there to show”.

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