Government has assured consumers it will not pass on the cost of its latest fuel price intervention, as it moves to cushion households and businesses at the start of the second pricing window of April.
The intervention, which takes effect Thursday, April 16, will see a GH¢2.00 per litre reduction in diesel prices and a 36 pesewas cut in petrol prices.
The Cabinet-approved measure is expected to run for one month, with authorities monitoring global oil market trends to determine the next line of action.
The Ministry of Energy and Green Transition maintains that the intervention forms part of a broader set of policy responses by government aimed at stabilizing the downstream petroleum market and protecting consumers from external price shocks.
“As we move forward, I am happy to let you know that these are series of interventions that the President’s cabinet, the president who cares, the president who listens, has ensured that the people benefit. Let me emphasize that this is not going to be like the COVID one where subsequently people were asked to pay for freebies that were given. No, that is not what the government is engaging.
“These are sacrifices that the government has made, is losing revenue in order for people to be okay and the government will not come back tomorrow to state that no, the people of Ghana should pay for freebies. That is giving. That is why the government has been very innovative to ensure that in the next four weeks, which is from tomorrow’s pricing window till the second pricing window of May, this is what will pertain. We are hopeful that we are going to see significant changes on the global market,” he said.
While the assurance that government will not recover the cost of the relief from consumers may offer short-term comfort, concerns persist among policy analysts.
Tax analyst have previously warned that such interventions, if not carefully managed, could create pressures on government finances and potentially necessitate future fiscal adjustments.
Source: citinewsroom.com