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Business News of Thursday, 20 September 2018


Transport fares to remain unchanged

The 0.2 percent increment in the price of fuel should not cause an upward adjustment in transport fares, Kwame Kuma, National Chairman of the Ghana Private Road Transport Union (GPRTU), has stated.

Mr. Kuma, who gave the explanation on OK Fm, an Accra-based radio station, said the recent increase is nowhere near the agreed 10 percent threshold to warrant a hike in transport fares.

According to him, the increase would affect the quantum of fuel sold at the pumps to all motorists, including commercial drivers- a marginal decrease – that should not attract an upward adjustment in fares.

“It’s just a 0.2 percent increment, so there is no way this is going to affect transport fares, as the increase has not yet reached the 10 percent threshold as per arrangements we have with the Ministry of Transport,” said the GPRTU boss.

Mr. Kuma, who encouraged government to do more to further reduce the prices of fuel, said “government has to do more to ensure that fuel prices remain stable and affordable. We are not saying government should bear all the cost, but at least help us a little by taking some of the cost of the drivers.”

The GPRTU Boss warned drivers to not to increase transport fares but maintain existing transport fares.

He said his outfit was in talks with the Ministry of Transport on the development.

The last time fares were increased was in June, this year when it was upped by 10 percent.

That followed a previous increase by 15 percent in April last year when government reduced the special petroleum tax rate from 17.5 percent to 15 percent and further to 13 percent, this year.

It also abolished duty on the importation of spare parts and reduced the Price Stabilization and Recovery Levies last December.

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