The Chamber of Petroleum Consumers (COPEC) has asked the Legislature’s Mines, Energy, and Finance Departments to investigate the government’s proposed new petroleum levy.
Despite the passing of the 2021 budget, the various committees in Parliament will discuss elements of the sectoral allocations.
Meanwhile, in an interview with Citi Business News, COPEC Executive Secretary Duncan Amoah said that as Ghanaians continue to wrestle with the consequences of COVID-19, parliamentary committees must ascertain that the citizenry’s interests are well protected.
“We will be hoping that our legislators on either the mines and energy committee and the finance committee are aware of the detrimental effects that the finance ministry’s proposed new taxes will have on the Ghanaian citizens, industries, and the common body Ghana.”
“And so we are very confident that by the time discussions from these committee stages are completed and whatever report should be ready, there may be some modifications through the proposition by the finance ministry, in order that we do not further burden the Ghanaian petroleum user, because if you added another 5.7 or 30 pesewas to fuel prices on the market already, we will be burdening the Ghanaian petroleum user,” he added., you are going to go way too high for any bodies pocket and we do think that our members in the various committees would be mindful of the complaints from their own electorates and not just go and tow party lines and approve everything that has been proposed”.
COPEC was one of the several organizations that objected to the government’s declaration of the levy, defining it as a sloppy approach to raising revenue.
In the 2021 budget presentation, a 30 pesewas rise in fuel prices was implemented to cover excess power capacity costs, as well as a Sanitation and Pollution Levy.
Despite public disapproval with some aspects of the budget, especially the introduction of new taxes, the 2021 budget was last week approved by parliament, but its committees will begin sitting to approve appropriations to various sectors captured in it.