The Energy Sector Levies (Amendment) Bill, 2021, was passed by Parliament to fix problems in the energy sector, as well as sanitation and emission concerns.
An Energy Sector Recovery Levy and a Sanitation and Pollution Levy are included in the Act, which amends the Energy Sector Levies Act, 2015 (Act 899).
The revenues from the Energy Sector Rehabilitation Levy will be used to fill a revenue deficit created by the Electricity Generation Firms’ failure to cover the expense of fuel provided by power suppliers, as well as related capacity costs.
Additionally, the Sanitation and Pollution Levy is being levied on individual petroleum goods to include funds to finance programs to increase air quality and include long-term financing for waste generation, treatment, and disposal.
Mr. Osei Kyei-Mensah-Bonsu, the Majority Leader, moved that the Bill be passed.
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The overall projected receipts from the two levies for 2021, according to Mr Kwaku Kwarteng, Chairman of the Finance Committee, will be GH 666,230,000.00 and GH 311, 660,000.00 for the Energy Sector Recovery Levy and the Sanitation and Pollution Levy, respectively.
In his contribution, Mr Cassel Ato Forson, Ranking Member on Finance, expressed disappointment that the government had previously proposed an increase in the Road Fund Levy (RFL), Energy Debt Recovery Levy (EDRL), and Price Stabilization and Recovery Levy (PSRL) in the 2019 Mid-Year Budget Review speech by the Finance Minister on July 23, 2019.
He said the government suggested raising the Energy Sector Levies by GHp20 per litre of petrol and diesel, and GHp8 per kg of Liquefied Petroleum Gas (LPG), in order to collect further money to support the government fulfill its energy sector obligations.
He was shocked, though, that the same government was proposing to collect the same levies for that reason.
SOURCE: ATLFMONLINE
