Audio By Carbonatix
Consumers of petroleum products and utility would have to brace themselves for regular adjustments in prices and tariffs as government plans to fully pass on the cost to consumers to reduce the pressure on its finances.
Joy News gathers that at a recent meeting on the economy, Cabinet asked for further consultations before it finally approves the move.
If the plan ultimately gets Cabinet's endorsement, then prices of fuel could be going up every two weeks, because government might no longer step in to cushion consumers from the expected hikes, whilst utility tariffs could go up every three months subject to the approval of Public Utility Regulatory Commission (PURC).
Joy News has also gathered that government could soon be cutting down subsidy on kerosene and pre-mix fuel.
This could mean that prices of these products would go up on June 1, the next review date. Government currently absorbs about 52 percent of the price on kerosene and 73 percent on premix fuel.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Photos: Police engage religious leaders at National Police Headquarters
4 minutes -
Gov’t invests GH¢443m in Free Primary Health Care – Dr Asare Bampoe
43 minutes -
ECG announces power outages in parts of Accra West and Central regions
1 hour -
Otumfuo calls for urgent action to end maternal deaths in Ghana
1 hour -
Prioritise Bawumia’s interest and vote on merit – NPP elder urges delegates Â
1 hour -
Jason Arday death ‘tragedy on so many levels’ says PM
2 hours -
Rotary Club donates phototherapy machine to Ussher Hospital
2 hours -
Analysis: Jason Arday’s death will send shockwaves through a divided academia
2 hours -
CJ’s vacation warrants not limited to politically sensitive cases – Victoria Bright
3 hours -
Parts of Accra to experience power interruption on Sunday for emergency GRIDCo tower restoration
3 hours -
Dafeamekpor defends Ayine’s handling of Aksa case, faults past AGs
4 hours -
Luv FM High School Debate: Afigyaman, OKESS seal Round of 16 spots in style
4 hours -
Dafeamekpor urges Parliament to stay out of Aksa probe, backs expert-led inquiry
4 hours -
The rise and rise of Azigi
4 hours -
Is Angela List being targeted? Government must reconsider the Adamus revocation
4 hours