Minority in Parliament is calling on the government to do everything possible to mitigate the continuous increase in fuel prices in Ghana as the trend is negatively affecting the ordinary Ghanaian.
The Minority suggested to the government to use part of the oil revenue amounting to about GHC 8 billion from petroleum products to cushion Ghanaians in this harsh economic times.
The Minority made this statement on Wednesday, November 2, 2022, in a media engagement. John Jinapor, Ranking Member on the Mines and Energy Committee of Parliament, urged the government to as a matter of urgency respond to the continuous price increases on fuel to ease burden on Ghanaians.
According to him, fuel has seen over 300 percent increase in less than a year.
This has translated into increases in the general goods and services in the country and several complaints from civilians about high cost of living.
In less than three months, the government has received over GH¢8 billion from our petroleum resources. So in three months, the government has received more than it projected for the whole year, so the government is making supernormal profits.
In fact, even the Price Stabilization and Recovery Levy which are supposed to subsidize fuel, government projected that in the first two quarters, it will receive GH¢269 million and as we speak, from the Ministry of Finance’s own record, the Government has received GH¢800 million. And so this notion that Government is not making any money is a fallacy”.
Government is making so much money from our petroleum resources, I, therefore, call on President Akufo-Addo and the outgoing Minister of Finance that they should do something about this pricing increment. They should sit up and think outside the box and apply these supernormal profits to cushion the ordinary Ghanaians.”
Mr. Jinapor explained.
He added that people from his constituency have been crippled with the hardship and can no longer bear it. He further bemoaned the inactions on the part of government to do something to salvage the situation.
I receive calls every day from members in the Constituency from people who cannot even afford one square meal a day, people who cannot even send their kids to school because of the exorbitant fuel prices which are having a cascading effect on food prices, and general cost of living.
We hold the view that Government can do something about the fuel price increment, Government must sit up, Government must do something and the Government must cushion the ordinary Ghanaians.”
Some analysts caution the country of a worse situation yet to unfold regarding fuel prices and the need for Ghanaians to brace themselves for the worse.
One may ask, is it ever going to get better and where exactly is the country heading?
