The Chamber of Petroleum Consumers (COPEC) has blasted the National Petroleum Authority (NPA) for repeatedly declining to involve core stakeholders such as Parliament in discussions on petroleum commodity price increases.
On Eyewitness News, COPEC Executive Secretary Duncan Amoah said that the NPA’s lack of involvement is unacceptable and unjust.
His reservations follow the NPA’s decision to reduce the price of fuel by eight pesewas per litre, after a meeting with industry representatives to discuss an increase in margins on petroleum products rates of 17 pesewas per litre.
“This is a very gray area. One of the points I posed earlier about how they were carrying out these actions, and they said that they were backed by legislation. However, our consultations with attorneys suggest that if you are heading out there to impose anything on the populace, it becomes a levy.
“Unfortunately, the NPA has developed into an autocratic institution that decides to upscale margins inside the confines of its office and is not immune to legislative or other oversight. I believe it is a field that we can consider in the future,” he said.
Petroleum oil margins increased by 17 pesewas per litre after the introduction of newly revised fuel taxes.
However, the NPA narrowed the 17-pesewa margin to 9 pesewas after a consultation with industry stakeholders.
Mr. Amoah expressed his appreciation for the reduction and expressed the expectation that it will take place today, May 5, 2021.
He suggested that it took the involvement of the Energy Minister, Oil Marketing Companies (OMCs), Bulk Oil Storage and Transportation Company Limited (BOST), and his organization to lower fuel price margins.
“The Minister called a conference of the OMCS, BOST, the NPA, and our good self to examine the actual figures slapped by the NPA. After deliberation, I believe he saw need to reduce the numbers raised by the NPA, for which he has directed that at least eight pesewas be subtracted from the 17 pesewas the NPA sought to slap Ghanaians with. You and I must have continued to spend the 17 pesewas for the NPA alone. Also at that conference, the NPA argued that the 17 pesewas were justified, but the Minister demanded that they be reduced.”
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SOURCE: ATLFMONLINE
