Bulk distributors of petroleum of petroleum products have described the total removal of subsidies on petrol, diesel and LPG as timely.
According to them, the move would ensure that there is constant supply of the product and also save their business.
The National Petroleum Authority last Friday announced a three percent hike in prices of Petrol and LPG, and a 2 percent increase on diesel.
This has resulted in the complete removal of subsidies on these products.
The distributors have had challenges in securing credits to import the products, because of government’s inability to honour monies owed them on time, as a result of the subsidy.
But Coordinator of the distributors, Senyo Hosi tells Joy Business this challenge would be a thing of the past following the removal of the subsidies.
Meanwhile, Financial Analyst, Sydney Casely Hayford says although the increases are justified, government should have given prior notice to consumers.