The Integrated Social Development Centre (ISODEC) is warning government against the removal of petroleum subsidies which has been recommended by the International Monetary Fund (IMF).<\/p>\n
After the first round of negotiations between the IMF and the government regarding a bailout programme for the nation, the\u00a0IMF announce<\/span><\/a>d<\/strong><\/span> that petroleum subsidies and the huge public wage bill have been earmarked for a drastic review.<\/p>\n The removal, according to ISODEC will worsen the economic conditions of the poor in the country.<\/p>\n The Chamber of Bulk Oil Distributors<\/strong><\/span><\/a> welcomed the IMF’s announcement and urged Ghanaians to prepare for the total removal of petroleum subsidies.<\/p>\n The Chief Executive Officer of \u00a0the Chamber , Senyo Horsi told Citi News<\/strong> in an earlier interview that the impending changes \u201chas been quite inevitable looking at our history of petroleum pricing and its effects on the economy.\u201d<\/p>\n [contextly_sidebar id=”sMhVjremde8tW7rrYcNn3jCd7noXXaga”]But ISODEC\u2019s campaign coordinator, Dr. Steve Manteaw in an interview with Citi New<\/strong>s, advised that the government should engage in targeted subsides.<\/p>\n He explained that governments which have governed the nation over the years have been practicing poor targeting which has influenced thoughts that subsidies are wasteful use of tax payers money.<\/p>\n He dismissed such assertions saying, \u201csubsidies are a good thing because it helps the vulnerable in our society from falling through the cracks of economic policy making.\u201d<\/p>\n He indicated that if government is able to provide better targeted subsidies, the poor will be protected \u201cand that way you are able to ensure some fairness in society, some kind of social justice.\u201d<\/p>\n <\/p>\n By: Efua Idan Osam\/citifmonline.com\/Ghana
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