Tuesday, February 19, 2013

Govt To Blame For Increase In Petroleum Products – Nana Akomea

Member of Parliament and Communications Director of the opposition New Patriotic Party(NPP), Nana Akomea says government should be blamed for the current fuel price hikes.

Contributing in a panel discussion programme on Accra-based Asempa FM on Monday, Nana Akomea chided government for the 20% increment in petroleum prices which he believes will invariably affect the prices of commodities in the country.

According to him, the fuel price increases will reflexively cause transport fares and pricing of market products to shoot up. This he believes will overburden the underprivileged in societies in the country.

He explained that the “disturbing” situation has arisen as a result of the devaluation of the Ghanaian currency.

“There has been a drastic depreciation in the cedi as against the dollar rate,” he said, stating that the dramatic changes in the exchange rate have called for the percentage rise in the pricing of petroleum products.

He further said that though government has no control over the price increments in the supply of oil from foreign countries, it however has the propensity to ensure that the dollar rate appreciates the country’s currency; adding that the fuel prices would not have increased by such high percentages if government had taken the necessary steps to expeditiously strike equal balances in the exchange rate.


 
 
 
Source: Ameyaw Adu Gyamfi/Peacefmonline.com/Ghana
 

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