The Chamber of Petroleum Consumers (COPEC) has expressed its approval for the government’s recent decision to eliminate certain taxes on petroleum products, deeming the move both timely and necessary.
According to COPEC, this directive serves as a crucial measure to protect consumers from the ongoing surge in fuel prices.
Issued by President John Dramani Mahama on April 9, the directive instructs the Ministers of Finance and Energy to commence discussions on potentially removing selected taxes within the petroleum pricing structure.
This development coincides with rising global crude oil prices, largely driven by geopolitical tensions in the Middle East involving Iran, the United States, and Israel, which have subsequently led to increased domestic fuel prices in Ghana.
In a statement, Duncan Amoah, Executive Secretary of COPEC, reiterated the Chamber’s willingness to collaborate with relevant ministries to ensure policy decisions yield substantial relief for consumers.
“Effective immediately, we would begin whatever discussions with the two ministries concerned to give our perspectives, particularly on some of the taxes that we believe have not only become a nuisance but have clearly outlived even their sunset uses.
“I believe that these tax conversations should not only be because of the Iranian-American-Israeli conflict situation that has seen fuel prices inch up to the levels they are.
“But it is something that clearly ought to have been done long ago. But we are happy nonetheless that Mr. President has given these directives that the ministries concerned should discuss and see how best they can rationalise some of the taxes and take out some of the taxes also to give some ease to the Ghanaian consumer.”
By: Rainbowradioonline.com/Ghana
