Audio By Carbonatix
Finance Minister, Seth Terkper, has justified the government's decision to suspend a planned hike in prices of some petroleum products.
Although a civil society group, African Center for Energy Policy (ACEP), has admonished government to stop meddling in utility provider-consumer affairs, the Minister has insisted government the intervention is necessary.
John Peter Amewu, Director of Research and Policy at ACEP, told Joy Business on Tuesday that government's intervention in halting the price increase opens up the problematic issue of unsustainable government subsidies again.
He noted that the balance sheets of the utility providers, especially those of the Electricity Company of Ghana (ECG) and Volta River Authority (VRA) have not been the best because of non-payment of realistic tariffs by consumers, stressing the need for government to stop intervening on behalf of consumers.
"My worry is, are we as a country going to maintain this subsidy regime? And how long are we going to take that?...I don't think [the policy] is sustainable", he said.
However, Mr. Seth Tekper explained that the policy is sustainable. He said the Public Utilities Regulatory Commission (PURC), for instance, will ensure realistic prices are charged on consumers - as they are mandated to do.
"The policy is intact, government has not changed that policy. But that does not mean government is not going to watch other developments in the economy", the Minister said.
Meanwhile, the Minister, together with his deputies has started deliberations with Ministries, Departments and Agencies (MDAs) to examine what should go into the budget for 2014.
The Finance Minister met with the Minister for Roads and Highways, Alhaji Amin Amidu Sulemana, on Tuesday to determine how funding should be allocated to the sector next year.
According to government, this measure is important to ensure that projects are executed with due regard to the resources available.
Seth Tekper told Joy FM's Super Morning Show this is a sure way of ensuring that development projects do not get started when funds are not available.
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
-
HAKLA SC Vice President marks birthday with donation to Children’s home
3 hours -
Shatta Wo Maame T…?
4 hours -
Dr Kingsley Agyemang raises concerns over Ghana’s Ebola preparedness gaps
4 hours -
EPA arrests Gyetey Gye Nyame Mining PRO over alleged illegal mining at Nkroful
4 hours -
Weija traditional leaders support demolition of structures on waterways to curb flooding
4 hours -
UGCFL26: Wilmar Africa, the newcomers taking over Group B
5 hours -
Why Gordon Asare Bediako matters for NPP 2028’s communication
5 hours -
UPSA hosts 11th Business & Entrepreneurship Conference on ESG and Sustainability
5 hours -
Strong public confidence boosts Ghana’s drive towards local vaccine production
5 hours -
Strategy Execution for Results
6 hours -
Teens need to press pause on late-night doomscrolling
6 hours -
PIAC probes delayed Ehi–Dzodze road project amid concerns over oil revenue use
6 hours -
SEED Club launched to nurture young entrepreneurs
6 hours -
Amb. Dr Samuel Ben Owusu calls for urgent action on Ghana’s water security
6 hours -
Pan Africa AU Agenda 2063 Mission, IAWPA hold Africa Day Leadership Summit in Accra
6 hours