{"id":287615,"date":"2017-01-24T10:30:49","date_gmt":"2017-01-24T10:30:49","guid":{"rendered":"http:\/\/citifmonline.com\/?p=287615"},"modified":"2017-01-24T10:30:49","modified_gmt":"2017-01-24T10:30:49","slug":"well-reduce-energy-sector-levies-boakye-agyarko","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/01\/well-reduce-energy-sector-levies-boakye-agyarko\/","title":{"rendered":"We\u2019ll reduce energy sector levies \u2013 Boakye Agyarko"},"content":{"rendered":"
The Energy Minister Nominee for Energy, Boakye Agyarko has announced an ambitious plan by the NPP government to reduce the taxes on the energy sector even as it initiates plans to address challenges facing the country\u2019s power sector.<\/p>\n
[contextly_sidebar id=”nd6fQhUu2SKKniRYbs5WB7I56ABzkOhJ”]As a result, the government says it will revise the energy sector levies.<\/p>\n
Mr. Agyarko who believes the power challenges facing the country are largely financial, is also optimistic the new plan by the NPP should create a more flexible system to deal with the matter.<\/p>\n
The Minister Nominee made the revelations when he appeared before Parliament\u2019s Appointments Committee on Monday.<\/p>\n
\u201cWe will revise the energy sector levies for the simple fact that if we rely on the present tax fiscal space to deal with this matter, we will not get very far. If we rely on the local banks who have exceeded their single line obligors in order to reify the problem we have we will not get very far,\u201d he stated.<\/p>\n
\u201cWe will start by reviewing the levies downwards and as we finish the financial engineering of the non-recourse approach then it may be necessary not to have it altogether or use it as part of the dedicated stream of revenues to service the ten to fifteen year tenure,\u201d Boakye Agyarko added.<\/p>\n
The Energy sector levies were introduced in December 2015.<\/p>\n