The Trades Union Congress (TUC) has suggested to the government that it must suspend all taxes on fuel products as a measure to alleviate the hardships on Ghanaians.
In a statement, the Union said the suspension should be immediate.
“We propose that the Government must immediately suspend all taxes and levies on petrol, diesel, LPG, and Kerosene. This should bring down prices of these fuel products by an average of about 15 per cent. The suspension should remain in force until the international price of crude oil stabilizes and the decline of the cedi has been halted,” the Union stated.
“The reduction in fuel prices will hopefully translate into the stabilization of or even reduction in prices of other essential items. including food More importantly, suspending taxes and levies on these fuel products in these challenging times will demonstrate to Ghanaians that our government is sensitive to the plight of the people of Ghana”, the TUC added.
This was perhaps one of the recommendations that forced Finance Minister Ken Ofori-Atta to announce on Thursday, some reductions in margins contained in the price build-up of petroleum products.
Prices of petroleum products have skyrocketed within the last few days.
Diesel is currently selling between GH¢10 and GH¢11 per litre, while the price of petrol has crossed the GH¢9 mark at some filling stations.
This has led to an upsurge in general prices. A recent report released by the Ghana Statistical Service noted that petroleum and food prices are the major driving forces of inflation in Ghana in recent times.
The Union says the situation is having a huge toll on the general welfare of the populace and the business community.
“Regardless of how one rationalizes the current situation, the truth is that the rising fuel prices have already had significant adverse impacts on living standards. Erosion of values of incomes has been severe, particularly for workers on fixed salaries. Many more Ghanaians have been pushed into poverty because of the rippling effects of higher fuel prices on the general level of prices of other essential items.”