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Business News of Friday, 15 October 2021

Source: www.ghanaweb.com

BizTech: COPEC breaks down impact of PRSL decision on consumers

Duncan Amoah is Executive Director for COPEC play videoDuncan Amoah is Executive Director for COPEC

Earlier in the week, Government through the National Petroleum Authority granted approval for the removal of the Price Stabilisation and Recovery Levy (PSRL) for petrol, diesel and LPG for two months.

The move is expected to mitigate the impact of fuel prices on consumers for a period of two months. Despite this, some experts in the petroleum sector believe the move will have little to no impact on the ordinary Ghanaian consumer.

Executive Secretary of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah on his part welcomed the decision but pointed government must remove some additional taxes from its budget to cushion consumers.

"We view the removal of Price Stabilisation and Recovery Levy as a good gesture but we believe it is not adequate enough reliefs the ordinary Ghanaian is clamouring for. We have the in the meantime put together a memo for the Finance Ministry to look at a more sustainable way of cushioning Ghanaians in the face of the rising cost of fuel at the pumps"

Duncan Amoah said this when he took his turn on GhanaWeb TV's BizTech segment with Mawuli Ahorlumegah.

Watch the full interview below:



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