Scrap special petroleum tax - Energy expert to government

An energy expert, Fritz Moses has urged the government amongst others to scrap the special petroleum tax.

That, he said will help reduce the burden on Ghanaians amidst the rise in prices of petroleum products which has caused an increment in food and commodities.

The National Petroleum Authority (NPA) announced the removal of the Price Stabilisation and Recovery Levies (PRSL) in a press statement issued by the Authority’s Corporate Affairs Department last Monday, October 11, 2021.

“The National Petroleum Authority (NPA) wishes to inform the public that His Excellency the President, Nana Addo Dankwa Akufo-Addo, has granted approval to zero the Price Stabilisation and Recovery Levies on petrol, diesel, and LPG for a period of two months,” a portion of the statement said.

The removal followed advice from the NPA to the Energy Minister for the government’s intervention to mitigate the impact of rising prices of petroleum products.

Speaking with Ekourba Gyasi Simpremu on Atinka TV’s morning show, Ghana Nie, Mr. Fritz Moses said, “What we were expecting this government to abolish from the onset was the special petroleum tax. During his campaign, the President himself said that the tax was a nuisance tax.”

Aside from that, he noted that the purpose for that levy was for the increment of government revenue because the prices for oil had reduced.

However, he noted that within the last five years, oil prices had increased, adding that the government’s revenue had been increasing, therefore questioning why the special petroleum tax was still being taken.

“Our hope is that the government or the President should be able to speak on it and ensure it is abolished,” Mr. Fritz Moses said.

He also said the BOST margin tax should also be abolished because it is a commercial entity that makes profits for itself.

Meanwhile, as an Energy Expert, Mr. Fritz Moses said they had not heard anything from the NPA on the removal of the tax as at the time of speaking on the matter with Atinka TV.