The Chairman of the Mines and Energy Committee of Parliament, Samuel Atta Akyea, says calls for the removal of some taxes on fuel products are in order.
According to him, some of the taxes have outlived their usefulness given the current economic situation in the country and even across the world.
Speaking to Citi News, he said some of the taxes were introduced to cushion the government in the case where crude prices globally fell but with the price rising drastically in recent time, such taxes cannot be maintained.
He further urged the Minister of Finance, Ken Ofori-Atta to review such taxes and take action on them.
“Some of the taxes were underpinned by the fact that crude oil prices may go low, and therefore we needed some money as back up in the event that it goes terrible for us. Now, the reasons for some of the taxes are redundant, like crude prices going up, and we will have some windfall, but these are the factors that will speak to him [Finance Minister]. It is about time we have a paradigm shift, given the new facts and the numbers.”
Mr. Atta Akyea also made calls for the capacity of the Tema Oil Refinery to be improved to make it a hub for refining huge quantities of crude within the sub-region.
“If we get the refineries working hard, I’m sure within West Africa, people will come to refine their oil in Tema, and we will ultimately benefit,” he said.
Fuel prices in Ghana have increased significantly in recent times.
Last week, major Oil Marketing Companies were selling Petrol for an average of GH¢9.70 and diesel at between GH¢9.99 and GH¢11.
Industry watchers and the Minority have called on the government to roll out measures to cushion Ghanaians due to the knock-on effect of fuel prices on every other sector, but the government is yet to make any concrete announcement on the subject.
