The Member of Parliament for North Tongu constituency and minority spokesperson on Foreign Affairs, Samuel Okudzeto Ablakwa, has asked government to roll out a number of measures to cushion the suffering masses.
He says taxes on petroleum is too high and it is about time government remove those taxes to alleviate the hardships Ghanaians are going through.
Though global prices for crude oil is sky rocketing on daily basis due to the ongoing war between Russia and Ukraine, government should find other alternative means to subsidize the price of crude brought into the country in order not for it to be pushed to final consumer.
Speaking On Okay FM's 'Ade Akye Abia' programme, he added that managers of the economy are also not doing enough when it comes to the performance of the currency.
"The performance of the cedi has taken a nose dive and the managers of the economy seem not to care about it.
"Like what former president John Mahama did, government should engage other stakeholders for their varied inputs on how best government can salvage the crippling economy," he said.
Traders have expressed worry about how they are losing money daily due to the poor perfomance of the cedi.
According to one of them, “From December 2021 to date, our capital has been depleted by about 16 percent. In December 2021, when the rate of the cedi to the dollar was GH¢6.4, a trader could use GH¢640,000 to buy US$100,000. Today, as the rate is about GH¢7.6 to a dollar, the same GH¢640,000 can buy only US$84,000, thereby making a loss of US$16,000 which is the 16 percent depletion,”
"If this should continue for the next year or two, then I can tell you that Ghanaians will contiunue to wallow in abject poverty," he added.
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COPEC threatens to stage demonstration over fuel price hikes
The Chamber of Petroleum Consumers, Ghana (COPEC), says it will embark on a demonstration, if nothing is done, about the current hike in fuel prices by the close of the week.
This comes on the back of predictions that petroleum prices at the pumps could increase from GH¢8.22 to GH¢10.00 per litre for diesel, and from GH¢8.22 to GH¢9.00 for petrol by Wednesday, March 16, 2022.
“We want to give the authorities an ultimatum. By the close of the week, if we don’t hear anything concerning the reduction of fuel prices to reduce the burden on consumers as France has done by giving subsidies to their people, we will by Friday hit the street to demonstrate.”
Source: Isaac Kwame Owusu/Peacefmonline/[email protected]
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One of the measures to solve the problem is pay cut. MPs must be paid C 5,000 , President 10,000 , Vice 8,000 Former Presidents and 8,,000 their aids 5,000, Chief executives in SOE's and districts DCEs 4,000 Judiciary 5,000. Ex- gratia to be retrieved and scrapped. This plan will halt the falling of the cedi.
This guy is full of himself! Abaaah
The line of argumentation of some NDC politicians leaves much to be desired. Let us assume that the NPP-administration with the e-levy wants to break the status quo of always rushing to the IMF for a bail out. And give it the benefit of the doubt to find out how well it fares with it to at least justify the successes or losses of doing something differently. Then, we just can't keep doing the same thing and expect different results. Let us, therefore, give his administration that benefit of the doubt. Thus, the IMF approach has never solved our financial problems, despite the stringent measures always associated with it.
Amazing to hear this from Ablakwa. Listen to me, pay your tax and E-levy as there is no money tree. UK raised employee national national contribution immediately pandemic was over. In Ghana, NDC is against E-Levy but wants more spending. Did you think this through, Ablakwa? Don't bring yourself, ignorance boy.
Talk is cheap...... What did you NDC guys do for us when we were in darkness for 4 years? Masaa comot for there. Look his head like coconut.
GHANAIANS ARE JOKERS NO COUNTRY BORROWED TO FUND THEIR INFRASTRUCTURE PROJECTS IS ONLY A COUNTRY THAT IS SICK. ALLOW PEOPLE TO PAY TAXES NOT TO LEAVE FOR FREE, A COUNTRY LIKE RUSSIA, USA, CANADA, AUSTRALIA, AND OTHER MIDDLE INCOME COUNTRIES DO NOT BORROWED TO FUND THEIR INFRASTRUCTURE PROJECTS, PAY GOVERNMENT WORKERS PURE ***barred word***. NO COUNTRY WANT THEIR CAKE AND EAT IT TOO. NO FREE LUNCH ANYWHERE IN THE WORLD. IF YOU DON'T WANT TO PAY TAXES TO FUND YOUR ROADS USE YOUR MOUTH TO PAVE YOUR ROADS. TAKE A LOOK AT THE GHANA CEDI, ANYTIME BANK OF GHANA SELLS DOLLARS GUTA AND THEIR PEOPLE GET A CHUNK OF IT TO IMPORT ALL KINDS OF sh*t INTO THE COUNTRY INSTEAD FORCUSING ON THE COUNTRY'S LOCAL FOOD PRODUCTION THAT IS WHAT IS KILLING THE CEDI TO BE THE WORST PERFORMING CURRENCY INTHE WORLD. GHANAIANS SHOULD TELL THE WORLD WHAT VALUE ADDED PRODUCTS DO GHANA EXPORTS TO EARN FOREIGN EXCHANGE TO SHORE UP THE CEDIS GHANA ONLY EXPORT RAW MATERIALS WHICH DOESN'T GET NOTHING MUCH. SO WE NEED TO EXPORT MUCH ADDED VALU TO GAIN FOREIGN EXCHANGE TO SHORE UP THE LOCAL CURRENCY AND THAT IS WHAT PRESIDENT NANA ADDO TRYING TO DO BY ONE DISTRICT ONE FACTORY. TO CHANGE THE PARADIM SHIFT TO GET MORE FOREIGN EXCHANGE TO HELP THE CEDI/
Gyimiiii saaa.. pay e-levy, you don't want to. How can the government raise funds to do what you are asking for?