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Business News of Wednesday, 30 May 2018


Fuel, spare parts hikes cause of increased transport fares - GRTCC

The Chairman of Ghana Road Transport Coordinating Council (GRTCC), Ben Amoabeng Preprah has attributed the increment of transport fares to the increment of price of fuel, spare parts, cost of maintenance, among others.

Mr. Amoabeng Peprah confirmed to Prime News Ghana that the increment is likely to take effect from Monday, June 4, 2018.

Fuel prices have been increased in the world market, thus affecting the local consumption, but transport operators have not increased their fares.

Prior to election 2016, the issue of increment of fuel became an issue as then oppsition New patriotic Party (NPP), criticized then National Democratic Congress (NDC) government for incresing fuel prices.

In an exclusive interview with Prime News Ghana, Mr. Preprah Amoabeng disclosed that they are not certain about the percentage increment.

He added that the new fares will be reasonable enough for passengers to pay.

In a related development, the Abbosey Okai Spare Parts Dealers Association has threatened to increase the prices of their goods if the government does not intervene in what they describe as increases benchmark value charges at the ports.

According to the dealers, although government scrapped the one per cent special import levy last year, they have been compelled to pay higher benchmark values at the ports.

According to the dealers, the one per cent special import levy which was scrapped has brought no relief to them since the Ghana Revenue Authority (GRA) has introduced a new benchmark value system at the ports.

The dealers noted that these charges have increased the taxes they pay at the port for their products.

“Because we do not have the destination inspection companies anymore the GRA is now doing the valuation. They have come out with a new benchmark to work out the valuation. What we notice is that the introduction of the new benchmark has increased the import duties that we are paying”, Public Relations Officer of the Abbosey Okai Spare Parts Dealers Association, Clement Boateng lamented in an interview.

He added that the abolishment of the one per cent special import levy has yielded no result due to the introduction of the benchmark value system by the GRA.