Energy consultant, John Peter Amewu is insisting the deregulation of pricing of petroleum products announced by government is a fa\u00e7ade.<\/p>\n
The National Petroleum Authority (NPA) announced in May that the\u00a0Bulk Oil Distribution Companies (BDCs) will be given the mandate to regulate prices of petroleum products to reflect the prices on the world market.<\/p>\n
[contextly_sidebar id=”IJSGEcrTBWxnVshxu1kuZ3wIqEBQdaSJ”]The BDCs on Tuesday began determining their own prices<\/a><\/strong><\/span> and some petroleum products have since seen a\u00a014 pesewa increment.<\/p>\n The former Volta River Authority (VRA), Dr. Charles Wereko-Brobby and former Deputy Energy Minister, KT Hammond have questioned the legality<\/strong> <\/span><\/a>of the NPA\u2019s actions since the matter has not been sent to Parliament for approval.<\/p>\n The Chief Executive Officer of the NPA has defended his institution’s decision, adding that his outfit will exercise oversight responsibility<\/a><\/strong><\/span> on the new pricing regime to protect the consumer from unfair pricing.<\/p>\n However, KT Hammond has given indications that the Minority in Parliament will sue the NPA<\/strong> <\/span><\/a>over the issue.<\/p>\n Speaking to Citi News,<\/strong> Peter Amewu maintained that it is the same automatic adjustment formula which is being implemented since the government does not want to be held responsible for any increment.<\/p>\n \u201cIt is the same automatic adjustment formula that they are witnessing. It is the same thing just that government doesn\u2019t want to be held responsible that is what is happening. They just do not want to be held responsible,\u201d he remarked.<\/p>\n According to him, a proper deregulated market is a market where the regulator\u2019s hand is totally out of pricing, adding that a deregulated market has its market forces determining the pricing mechanism of petroleum.<\/p>\n Peter Amewu pointed out that presently, Ghana still has a regulator \u201cundertaking some regulatory activity within the framework that we have and so we can\u2019t say that this is deregulation \u2013 not at all!\u201d<\/p>\n \u2018The processes that deregulation goes through are properly outlined so at it stands now, there is no deregulation,\u201d he added.<\/p>\n <\/p>\n By: Efua Idan Osam\/citifmonline.com\/Ghana
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