Government suspends implementation of price stabilisation and recovery levy on petroleum products
The move is expected to cushion consumers from paying high costs of fuel at the pumps due to rising global prices
Government has directed the National Petroleum Authority (NPA) to suspend the implementation of price stabilization and recovery levy (PSRL) from the price build up on petroleum products.
The move is expected to cushion consumers from paying high costs of fuel at the pumps due to rising global prices.
A letter dated (28 March) and signed by the deputy CEO of NPA, Perry Okudzeto to all the players in the oil and marketing distribution sector said the suspension will span from 1 April to 30 June 2024.
“The Ministry of Finance through the Energy Ministry has directed the National Petroleum Authority (NPA) to remove the price stabilization and recovery levy (PSRL) from price build in accordance with section 2(b) of the Energy Sector Recovery Levies Act 2015(Act 899) amended 2021 Act 1064 for three months.”
“In view of the above directive, the NPA hereby wishes to inform all Oil Marketing Companies (OMC’s) and LPG Marketing Companies (LPGMC’s) that the PSRL has been revised …for the period 1 April to 30 June, 2024,” the letter said.
Below is a copy of the letter:
PSPs_Removal of PSRL From t… by Fred Dzakpata
Reporting by Fred Dzakpata in Accra
Asaase Radio 99.5 broadcasts on radio via 99.5 in Accra, 98.5 in Kumasi, 99.7 in Tamale, 100.3 in Cape Coast and on our affiliates Azay FM 89.1 in Takoradi, Bawku FM 101.5 in Bawku, Beats FM 99.9 in Bimbilla, Somua FM 89.9 in Gushegu, Stone City 90.7 in Ho, Mining City 89.5 in Tarkwa and Wale FM 106.9 in Walewale
Tune in to broadcasts online: asaaseradio.com, Sound Garden and TuneIn
Follow us on Twitter: @asaaseradio995
Live streaming on facebook.com/asaase99.5. Also on YouTube: AsaaseXtra.
Join the conversation. Call: 020 000 9951 or 059 415 7777. Or WhatsApp: 020 000 0995.
#AsaaseRadio
#TheVoiceofOurLand
#WeAreHere
#WeLoveOurLand
