https://www.myjoyonline.com/ghanaians-must-equally-be-blamed-for-tor-debt/-------https://www.myjoyonline.com/ghanaians-must-equally-be-blamed-for-tor-debt/
Economy

Ghanaians must equally be blamed for TOR debt

A former spokesperson under the Kufuor administration says Ghanaians in general must take responsibility for the escalating Tema Oil Refinery Debt. Andrew Awuni who is also the Executive Director of the Centre for Freedom and Accuracy told Joy News the endless calls for petroleum subsidies by Ghanaians is to blame for the debt. The TOR debt has become synonymous to Ghana’s oil politics. Governments blame each other for leaving behind the strangling debt which makes it almost impossible for any planning to be done. Government sources quote the current debt at GHS1.5 billion most of which it blames the previous NPP government for incurring. The previous government also inherited some of the debt, though small, in 2001 and instituted the TOR debt recovery levy as an element in the petroleum pricing policy in order to defray the debt. The party however ended up increasing the debt profile, after crude oil prices on the international market shot up to $147 per barrel in 2008. Explaining the reasons for the increasing TOR debt, Andrew Awuni said governments are faced with a real challenge of fixing realistic prices of fuel anytime the commodity rises on the international market. Worst still, some politicians he said play on the keyboards of people’s emotions by pitching them against the government whenever it wants to fix realistic prices. “When some politicians join hands with citizens of this country to call for fuel price reduction and go on political agitation, demonstrations strikes and all that, basically what we are asking for is increased subsidies and perhaps increased debts,” he told Joy News’ Sammy Darko. He said it is even more difficult to understand why the same politicians will now turn around and blame previous governments for piling up debts. He dismissed assertions the turn of event is a demonstration of weak governments who crumble under political pressures from opponents and make decisions that may on the face value appear convenient but in the end are injurious to the economy. Mr Awuni called for more transparency in the petroleum pricing. Play the attached audio for excerpts of the interview. Story by Nathan Gadugah/Myjoyonline.com/Ghana

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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.