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Fuel increment: Scrap nuisance TOR recovery levy – Expert

Energy expert and chief executive officer of GASOP Oil Kojo Poku has called on government to scrap the TOR recovery levy from the petroleum price build up of the country.



His call comes in the wake of the fuel price increment which has resulted in the 10% increment in transport fares across the country.

Speaking to Francis Abban on the Morning Starr Monday, Mr. Poku said taking out the TOR recovery levy will see consumers enjoy some respite in the purchase of fuel.

He further noted the claim by government that building new refineries will reduce the price of fuel is not accurate.

“The deregulation is here to stay. I don’t think anybody will want to revisit the deregulation. The refineries that others mentioned are not interventions that will cause prices to decrease. The refineries will still have to import products into the country, compete on the international market among others. Their presence will not cause any decrease in fuel prices. The TOR recovery levy should be scrapped. It’s a nuisance tax if you ask me. If the TOR recovery levy goes, it will bring some relieve”.

Reacting to the call, Communications consultant to the Energy ministry Nana Damoah said taking out the TOR recovery levy will need parliamentary approval and therefore more time to get it done.

“If we are looking at short term measures, there is little we can do and so we will plead for more time so we can take care of the fuel price increment we are seeing. As an elected government, whenever there are price increases we feel it too and we are putting in place measures to help the situation

“If we want to scrap the Special Petroleum Tax, the document will have to go to Parliament for amendment…that will take some time as well and so we are asking for more time from Ghanaians”.

The TOR Debt Recovery Levy was introduced by the government in a bid to clear the massive debt that hang on TOR as a result of under recoveries.

 

Source:Starrfmonline.com

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