COPEC Against Proposed Petroleum Taxes in Mid-Year Budget Review

The Chamber of Petroleum Consumers (COPEC) has raised alarm over the government’s rumored plan to introduce new taxes on petroleum products in the upcoming mid-year budget review. According to sources, Finance Minister Ken Ofori-Atta is set to present the review to Parliament on July 25, 2023. COPEC asserts that such a move would exacerbate the already burdensome cost of fuel for consumers, further impacting their livelihoods. The Executive Secretary of COPEC, Duncan Amoah, voiced concerns about the potential insensitivity of the government’s actions, urging for support and relief during these challenging economic times.

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Worsening the Burden on Ghanaians

The high cost of fuel has been a pressing concern for Ghanaians, affecting their daily lives and overall financial stability. With the country facing economic challenges and austerity measures, the populace is already struggling to make ends meet. Imposing additional taxes on petroleum products would only escalate the financial burdens faced by ordinary citizens and businesses alike.

Duncan Amoah’s Critique

Speaking on the Breakfast Daily show on Citi TV, Duncan Amoah, the Executive Secretary of COPEC, expressed dismay over the government’s rumored plans. He emphasized that during times of austerity, governments worldwide typically provide support and relief to ease the burden on their citizens. However, he lamented that the proposed introduction of new taxes on fuel goes against this approach, further exacerbating the hardships faced by Ghanaians.

Amoah raised concerns about the government’s apparent misalignment and insensitivity in dealing with the economic challenges. He questioned whether the Finance Minister truly understood the root causes of the financial hardships faced by citizens, suggesting that proper diagnosis of the problems is necessary for effective solutions to be devised.

The Call to Action

COPEC’s warning to the government is clear: if the proposed taxes on petroleum products are implemented, they will face strong opposition. Consumers, already grappling with the soaring costs of fuel, view this move as a severe blow to their economic stability. The advocacy group is prepared to stand up for the rights and well-being of Ghanaians, urging the government to reconsider its plans and explore alternative ways to address economic challenges without burdening the people further.

Appeal for Rational Solutions

In times of economic difficulty, it becomes imperative for governments to devise rational and compassionate solutions. Rather than exacerbating the financial struggles of the populace, stakeholders and policymakers should work collaboratively to identify effective strategies that promote economic growth and stability.

gasoline, diesel, petrol
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The issue of imposing new taxes on petroleum products has sparked concern and anxiety among Ghanaian consumers. COPEC’s strong warning to the government reflects the growing apprehension over the potential impact of such a move. As the mid-year budget review approaches, citizens eagerly await the Finance Minister’s address to see whether their concerns have been taken into consideration. It is essential for the government to prioritize the welfare of its people, seeking sustainable solutions that alleviate financial burdens and support economic growth in these challenging times.