TUC calls on Gov’t to re-introduce fuel subsidies
Ghana is likely to experience the chaos in Nigeria if care is not taken. Withdrawal of subsidies on petroleum products by government has adversely affected majority of Ghanaians especially fix income earners.
The fuel increases has also affected traders, increased transport fares, and cost of businesses among others. As a result, the Ghana Trades Union Congress (GTU) has organized a press conference to express their disapproval of government’s withdrawal of subsidies on petroleum product.
The total removal of subsidies on petroleum product has been a major concern to the GTUC as the ordinary Ghanaian according to them suffers the most. The union says subsidies on petroleum products have been an important component of petroleum pricing in the country mitigating the effects of petroleum prices on the vast majority of Ghanaians who earn low incomes or have no income at all.
The union is therefore worried on how the act has generated heated argument between drivers and transport owners on one hand and passengers on the other. Fuel price increases have also increased food prices making it even more difficult for both the working and non-working people of Ghana to meet their basic needs.
The union also finds it surprising that the National Petroleum Authority was able to announce the increment without any mention of the hedging policy and the stabilization fund suppose to shield Ghanaians from unexpected world crude oil price movement and prevent astronomical increases.
In Nigeria, where a similar action has been taken, has resulted in a nationwide strike. The union is, therefore, calling on its members and civil society at large to come on board and help bring back the subsidies on petroleum products.
By: Winifred Ampiaw, e.tv Ghana
Accra, May 17, 2012
Government’s management of revenue generated from the country’s oil and gas resources will today come under intense scrutiny ... 