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The General Secretary of the opposition New Patriotic Party saysthe
four per cent hikes in petroleum prices announced Tuesday is nothing
more than “symptoms of government’s incompetence.”
Kwabena Agyapong at a press conference in Accra Tuesday said failure
by the government to arrest the jetting fall of the cedi means the
populace will be saddled with needless hikes.
“The key parameter is that they cannot control the cedi depreciation.
At every turn the cedi loses to the dollar the ex-pump price would
have to increase,” he said.
As part of the full implementation of price deregulation policy prices
of petroleum products have been adjusted by some Oil Marketing
Companies.
Apart from Goil all the major Companies announced marginal hikes in
the petroleum prices.
The announcement has led to chaos at some fuel stations in the
country. Some Motorists did not understand why prices would have to be
increased again barely a month after similar hikes were implemented.
NPA Chief Executive Officer Moses Asaga said his outfit will ensure
that the companies operate within acceptable price margins.
But Kwabena Agyapong insists the hikes are unacceptable.
He told Joy News at the sidelines of the press conference the hikes
have been necessitated by galloping fall of the cedi.The cedi was
equivalent to one dollar at the time we left government, he said but
now the cedi is equivalent to four dollars.
He said there is the need for a more competent government witha track
record of managing the cedi to be elected into office to save the
country from the quagmire.
He said at the time crude oil was selling at 147 dollars per barrel,
Ghanaians were not buying fuel at this price because the then
government was able to manage the cedi well and wondered why the
citizens would be made to pay more at a time crude oil is relatively
low.
Credit: Myjoyonline.com
