The National Petroleum Authority (NPA) says the government over the last three years has shown a lot of goodwill by subsidizing fuel but it is time for that practice to cease.
The NPA is of the opinion that since global financial dynamics and economics are changing, it is time government takes the bold decision by allowing Ghanaians to pay the full cost on essential products.
“I think the time has come for government to rethink and face the fact that we cannot sustain this subsidy; maybe we need to do a realistic pricing,” said the Chief Executive Officer of the NPA, Moses Asaga.
Government, in the wake of an acute fuel shortage in the country has released it’s strategic fuel reserves onto the market to meet the demand for the product.
It has also taken steps to settle its debts with the Bulk Oil Distribution Companies (BDCs) for them to resume the supply of petroleum products.
In an interview on Eyewitness News, the NPA boss mentioned that his outfit has always been fighting for the removal of subsidies to be replaced by realistic pricing.
According to him, if government had allowed the NPA to continue with its marginal increment of petroleum prices, “by now this subsidy would have been removed completely and we would have been having free flow of fuel at moderate prices.”
He expressed satisfaction at the willingness on the part of some Ghanaians to pay the full cost of petroleum products if uninterrupted supply is guaranteed.
Mr. Asaga assured consumers the NPA will not outrageously price its products but the current economic situation will be taken into consideration.
“We will look at what is realistic for a win-win situation between the investors and the consumers,” he promised.
He pointed out that government was paying the subsidies to the BDCs on faith basis but for the whole of 2014, government has not been able to fulfil its obligations because, “we have never given the right price onto the market.”
The NPA boss appealed to Ghanaians to “accept the right price and get the free flow of fuel.”
By: Efua Idan Osam/citifmonline.com/Ghana