Audio By Carbonatix
Economist Dr Joe Abbey is warning against a possible re-introduction of subsidies on fuel.
Early this year, government announced a 15-20 per cent hikes in fuel prices after removing subsidies on the petroleum products but the implication has been deleterious, workers claim.
The workers are threatening strike and industrial unrest if government does not revert to the subsidy regime or provide a corresponding increase in salaries.
But in an interview with Joy News the head of the Centre for Policy Analysis (CEPA) Dr Joe Abbey said the workers must proceed cautiously.
He explained the world is crumbling under heavy debt regime, adding, the world is watching out for countries which are piling up debts due largely to unsustainable policies.
According to him, last year alone, the total amount of debt incurred as a result of subsidy was ¢458 million. That amount, he said, is not sustainable.
He said the country must choose to run an economy free of self inflicted debt or go back to our debt regime caused by subsidy on fuel products.
Joe Abbey called for better communication, and transparency to ease the pressure on government anytime subsidies are removed on fuel.
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
-
T-bills auction: Government exceeds target marginally; yield on 91-day bill remains unchanged
3 hours -
GPL 2026/27: 10-man Aduana hand Kotoko defeat in Kumasi
3 hours -
GPL 2026/27: Medeama ease past Basake Holy Stars
4 hours -
Appiah Adomako writes: Why DVLA must stop treating every expired licence holder as delinquent
4 hours -
Localization must transfer decision-making power, not just project responsibilities
4 hours -
Modernising Ghana’s traditional markets through the 24-Hour Economy markets initiative
4 hours -
New economy will boost local production and create jobs – Finance Minister
4 hours -
Real-Time VAT on cross-border digital services – not a new tax and does not violate double taxation principle
5 hours -
Digitalisation, AI key to Ghana’s tourism transformation – GHATOF
5 hours -
Stronger GTA-private sector partnership needed to grow tourism – GHATOF
5 hours -
Amazon eyes Ghana for broadband expansion after talks with Mahama
6 hours -
National Investment Quiz 2026: Six schools qualify for quarter-finals
6 hours -
‘Do not let Russia pay for its madness with lives of your people’ – Zelensky to Ghana, 46 other countries
6 hours -
6,079 promotion cases fully processed and paid – CAGD says amid nationwide teachers’ strike
7 hours -
Teacher unions to meet government Monday over nationwide strike
7 hours