Audio By Carbonatix
The government has been advised to fine-tune the deregulation of the petroleum sector to limit the harsh effects of price fluctuations of crude oil on the economy.
The Chief Executive of Unique Trust Financial Services, Captain (retd.) Kofi Amoabeng, who gave the advice, said the economy was too fragile to be left to the mercy of daily rise and fall in prices of fuel.
Speaking on Joy FM’s current affairs programme, Front Page, Captain Amoabeng said the vulnerability of the economy to the shocks of crude oil prices on the world market could be better managed.
He suggested hedging in the sector, adding that, that would stabilize
the price of fuel and help businesses to plan.
On politics, Captain Amoabeng emphasized the need for politicians, especially those in power to tap the vast experiences of those who have been in office before.
He was not happy with practice of throwing away the old order entirely, saying it did not allow for continuity which was necessary for building strong and efficient institutions.
The Unique Trust boss appealed to whoever that succeeds president Kufuor to build on his achievement.
Contributing on the programme which was to discuss the President’s State of the Nation Address, the Minority Spokesperson on communications, Mr Haruna Iddrisu, disagreed with the president’s assertion that the economy was strong and resilient.
He argued that the government had borrowed more than any other government in the nation’s history and therefore could not pride itself of building a strong economy since the resources were not internally generated.
Responding to complaints of micro-economic stability not reflecting in the pockets of Ghanaians, a Minister of State at the Ministry of Finance and Economic Planning, Dr Anthony Osei Akoto, who was also a panelist, said that assertion was wrong.
Citing the capitation grant, school feeding programme and National Health Insurance Scheme, Dr Akoto said money that ought to have been spent by parents on pupils in school and health now remained in their pockets.
In response to the suggestion on hedging, he said the subject was being seriously considered.
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
-
2028 is not a normal election – Amewu explains why NPP needs Kennedy Agyapong
2 minutes -
Sogakope Circuit Court jails farmer 15 years for incest, defilement
2 hours -
The whole nation wants Kennedy – Amewu makes strong case for Agyapong
2 hours -
31-year-old illegal miner sent to prison over theftÂ
3 hours -
Court remands GPHA staff over stolen tugboat
3 hours -
Attendance at trial is a constitutional duty, not an option
4 hours -
RTI response raises questions over Bryan Acheampong’s military service claims
4 hours -
Two women granted bail over assault of 12-year-old; another remanded
4 hours -
Ghana’s IMF programme extension to August 2026 was to allow more time for final review work – IMF
4 hours -
No records of Bryan Acheampong’s enlistment and release from the US Army – Parliament says in RTI response
4 hours -
Daasebre Osei Bonsu III swears oath of allegiance to Asantehene and pledges unity and development for Asante Mampong
5 hours -
We had fruitful deliberations with private transport operators – Transport Minister
5 hours -
45-year-old farmer jailed 15 years for sexually abusing 14-year-old niece
5 hours -
Lawrence Ofori joins Casa Pia after mutually parting ways with Moreirense
5 hours -
Brazil have talent for World Cup, but victory not guaranteed – ESPN’s Bertozzi
5 hours
