Motion on Petroleum Levy held in abeyance

The Minister for Finance Mr. Yaw Osafo-Maafo (MP) has been requested by Parliament to explain how an unspecified amount of money accrued as a result of the hike in petroleum price would be used. He is also to tell the House how the money that had been lodged in an escrow account was deducted.

First Deputy Speaker, Mr. Freddie Blay, gave the directive in Parliament after the Majority failed to convince the Minority about the legality of a bill on the Custom and Excise (Petroleum Taxes and Petroleum related Levies) amendment.

Mr. Seidu Pakuna Adamu, NDC-Bibiani/Anhwiaso/Bekwai, had questioned the legality of the bill since the authority it sought to claim had already been exercised. He said the Presidency had already levied Ghanaians without prior approval of Parliament, which was unconstitutional.

"Perhaps, the Minister was in dilemma, to come to Parliament and meet the disapproval of the hike in petroleum prices as it is tied to the levy or stay away and come later." He said the integrity of the House was being undermined by the Minister's request. The Deputy Majority Leader, Mr. Abraham Osei-Aidoo, said the bill did not contain any piece of information to suggest that it possessed a retroactive proposition.

He said Tema Oil Refinery (TOR) was a limited Liability Company that had the right to adjust prices of its products and set aside part of its money for any purpose that it deemed fit. The member said money lodged in the escrow account could be transferred into the road fund without breaching any string of legality.

The bill whose fate is now dependent on the Finance Minister's explanation and how the Majority organises its members for the crucial vote in the near future, sought to increase road levy from 230 cedis per litre of premium petrol to 400 cedis.

Mr. Osafo-Maafo was absent.