Audio By Carbonatix
Bulk distributors of petroleum products have described the total removal of subsidies on petrol, diesel and LPG as timely. They believe the move would ensure constant supply of the product and also save their business.
The National Petroleum Authority last Friday announced a 3% hike in prices of Petrol and LPG, and a 2% increase on diesel. This has resulted in the complete removal of government 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 due to the subsidy.
National Petroleum Authority (NPA) Chief Executive, Alex Mould said the policy would be reviewed after two weeks and any fluctuations in international crude oil prices would be passed on to the consumer.
But the Coordinator of the Bulk Distributors, Senyo Hosi, told Joy Business this challenge would be a thing of the past following the removal of the subsidies.
However,financial analyst, Sydney Casely Hayford, says although the increases are justified, government should have given prior notice to consumers
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
-
Prioritise cocoa sector with better prices, timely payments-Annoh-Dompreh urges NDC
14 minutes -
Lands and Mines Watch Ghana endorses Heath Goldfields’ mining capacity
29 minutes -
Gbintiri residents protest alleged diversion of 24-hour market project
54 minutes -
Justin Bieber headlines Coachella with nostalgia-fuelled set
57 minutes -
Ukraine and Russia accuse each other of hundreds of ceasefire violations
1 hour -
Asha Bhosle: The sound of Bollywood dies aged 92
1 hour -
Fire destroys section of 4-bedroom apartment at Tantra Hill
2 hours -
Safe city: Unnoticeable protection
2 hours -
North East Regional Police Commander raises alarm over burning of checkpoints
2 hours -
Free Primary Healthcare Programme set for take-off — Health Ministry confirms readiness
2 hours -
3 co-wives, 5 children perish in canoe disaster – Maritime Authority insists life jackets use mandatory for all water transport
3 hours -
Iran war lands ‘triple blow’ to flood-ravaged Sri Lankans
3 hours -
Gunmen kill at least 11 people at Afghanistan picnic spot
4 hours -
Woman, 25, in court for stealing baby at Bogoso
4 hours -
Trump unveils giant gold-accented victory arch design for US capital
4 hours