The Institute for Energy Security(IES) has urged the government to revive the Tema Oil Refinery(TOR) in the shortest possible time ro help deal with the hikes in fuel prices.
A statement issued by IES said the government must update Ghanaians on the status of the negotiation between TOR and the strategic partnership announced some months ago over the possibility of a refinery re-commencing operation after several months of inactivity.
“Government’s sudden appetite for imported fuels to address reliability and cost-related issues can best be described as reactionary, morally indefensible, misplaced priority, and a deliberate attempt to increase the fiscal burden of the Ghanaian economy. It must be stated forcefully that “the state is better off prioritizing local crude refining, instead of importation of refined products.”
“Once more, the Institute for Energy Security (IES) wishes to appeal to the President to look within— bring back TOR in the shortest possible time, refine Ghana’s crude domestically, work to strengthen the local currency, and ensure an adequate amount of Dollars is made available to importers of fuel,” the statement read.
By: Rainbowradioonline.com/Ghana
