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Government to cut 50% of fuel coupon to appointees, says Ofori-Atta

The Finance Minister, Ken Ofori-Atta has said the government will cut fuel coupons to begining 1 April 2022.

The finance minister said the difficult economic times the country finds itself require stringent actions to alleviate the hardship on Ghanaians.

Addressing the nation on measures being taken to curb the economic challenges on Thursday (24 March), Ofori-Atta said this will also affect heads of state-owned enterprises (SOEs).

“These times call for very efficient use of energy resources. In line with this, there will be a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1 April 2022.”

Petrol to go down by 1.6%, diesel 1.4% 1 April

The government has reduced margin price build-up of petroleum products by a total of 15 pesewas per litre with effect from 1 April 2022, Ken Ofori-Atta, the Minister for Finance has said.

This is expected to be implemented for the next three months.

Addressing the country on measures being taken to curb the economic challenges, Ofori-Atta said, “To mitigate the impact of the rising price of petroleum products at the pump, for the next three months, the government has decided to reduce margins in the petroleum price build-up by a total of 15 pesewas per litre with effect from 1 April.”

Ofori-Atta said these reductions in margins are expected to reduce the prices of petrol by 1.6% and diesel by 1.4%.

“We anticipate that the measures taken to strengthen the currency will help further stabilise the prices at the pump,” he added.

He said the National Petroleum Authority (NPA) is in discussion with the Oil Marketing Companies (OMCs) to reduce their margins within the spirit of burden-sharing.

“The government will do all it can to ensure consistent supply of fuel and manage the rate of the ex-pump price increase by ensuring that BoG has access to adequate foreign exchange,” Ofori-Atta said.

Nicholas Brown

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