‘Arrest’ dollar to bring fuel prices under control – COPEC

 

‘Arrest’ dollar to bring fuel prices under control – COPEC

The Chamber of Petroleum Consumers Ghana (COPEC) has asked the Bank of Ghana and the Economic Management Team to take immediate steps to halt the fast decline of the Cedi against the US Dollar to stabilize fuel prices. 

The Chamber attributed the continuous hikes in fuel prices to the “free fall” of the Cedi and cautioned that fuel prices could hit “uncontrollable” levels in future if the local currency was not stabilized. 

Executive Secretary of COPEC, Mr Duncan Amoah speaking to the media said, fuel prices could hit GHS20 per litre by the end of the year if the rate of depreciation of the Cedi was not halted immediately.  

According to him, it is very sad to hear President Akufo Addo praising the Finance Minister despite the economic crisis in the country.

He added that, the cedi is depreciating against the dollar stressing that, availability of dollar, if not addressed in the coming days, they could also be hitting a fuel shortage situation as well. 

Some oil marketing companies on Monday morning, October 17, 2022, adjusted their prices upwards, selling petrol and diesel for GHS 13.10 and GHS15.99 per litre respectively. 

The adjustments represent more than 10 per cent increment from the last pricing window, which closed on Saturday, October 15, 2022, with diesel and petrol then selling at an average GHS11.05 and GHS 13.98 respectively. 

….MR. DUNCAN…..

 

Drivers will raise fares without consensus – True Drivers Association warns

True Drivers Association of Ghana has warned its drivers could increase fares without a consensus with the government if negotiations do not go as planned.

Chairman of the Association, Yaw Barimah speaking to Silver fm’s Nana Ama Aninwaah ahead of a meeting with the government over transport fare increments, he said their expectations were in line with the up to 40 percent increment proposed by the Ghana Private Road Transport Union.

According to him, Ghanaians should be aware that they will increase transport fares irrespective of the outcome of their meeting with the government coming Thursday.

He added that, the price of diesel was at GHC14.50 per litter but now it is sold at GH¢15.99.

The concern over fares comes after the increase in fuel prices.

The last transport fare increases were in May 2022.

Transport fares went up by 20 percent in May where fares were increased by 20 percent.

As of May 9, 2022, when the new fares took effect, petrol and diesel were selling at a national average of GH¢9.41 and GH¢11.12, respectively.

.…YAW BARIMAH….

 

Minority questions number of judges appointed to Supreme Court by Akufo-Addo

The Minority in Parliament has raised concerns about the number of judges appointed to the Supreme Court by President Akufo-Addo.

The Minority says the increase from 11 to 14 justices has the tendency to drain the resources of the state, contrary to the president’s claim of protecting the public purse.

The Minority Leader in Parliament, Haruna Iddrisu, made this known at an Appointment Committee’s vetting of newly appointed judges to the Supreme Court earlier today.

“If you take the fourth Republican period, we have seen a significant number of appointments by the President in the exercise of his powers in Article 144.”

“But note that President Mills contributed about 21.4%, John Dramani Mahama, 28.6%, and Nana Akufo-Addo, 78.6% from 11, to 14 Supreme Court judges. We wonder if he is mindful of the public purse.”

Haruna Iddrisu also says criticisms against the judiciary form part of political accountability and must thus be embraced by the judiciary.

“It is part of political accountability for us to demand that things are done, and done right,” he added.

The Justices being considered are Justice Barbara Frances Ackah-Yensu, Justice of the Court of Appeal; Mr Justice George Kingsley Koomson, Justice of the Court of Appeal; Mr Justice Samuel Kwame Adibu Asiedu, Justice of the Court of Appeal; and Mr Justice Ernest Yao Gaewu, Justice of the High Court.

…HARUNA IDDRISU….

 

 

Mix reaction about whether Finance Minister should be sacked or not

Ghanaians have shared their views about the President comments that, the Finance Minister, Ken Ofori Atta have done a tremendous work in ensuring that the economy revives.

President Akufo Addo speaking in an interview at Kumasi based Otec fm yesterday said, there is no basis for him to sack the Finance Minister, Hon. Ken Ofori Atta.

According to him, Ken Ofori-Atta has discharged his duties “excellently” and he cannot relieve such a person of his position.

President Akufo-Addo speaking on Kumasi based OTEC FM today said he has full confidence in his Ministers.

He added that, Ofori-Atta cannot be blamed for the current economic woes the country is facing stressing that, he came to office in 2017 under a stringent IMF programme and this same man was able to manage the affairs of the economy in such a way that in his first term, they were one of the fastest-growing economies in the world.

Some prominent Ghanaians believe that, the President has failed to heed to the call of Ghanaians by sacking him due to his incompetence.

But some Ghanaians within Kumasi speaking to Silver fm’s Nana Ama Ahwenie said the President should not sack Ken Ofori Atta since he cannot be blamed for the economic crisis in the country.

According to them, the world is already facing challenges due to the Russia-Ukraine war but others think that, Ken Ofori Atta should be sacked because he had failed to deliver.

Others stated that, President Akufo Addo and Ken Ofori Atta should all resign from their post.

.….GHANAIANS…..

Suame interchange will be the second 4-tier in Ghana- Nana Addo

Ghana President, Nana Akufo Addo has stated that, the Suame interchange will be one the best interchanges Ghana has ever witnessed.

Addressing the people of Suame during the sod cutting for the Suame interchange, Nana Addo revealed that, the Suame interchange will be the first 4-tier interchange in the Ashanti region and the second in Ghana after the Pokuase interchange.

According to him, “Once completed, it will address the perennial conjunction experience around the Suame round-about and improve urban mobility within the greater Kumasi metropolitan area which will consist of a 4-tier interchange at the Suame round-about, an overpass at the Abrepo junction, an overpass at Krofrom junction, an overpass at Anomagye junction, an overpass at Magazine new road junction and an overpass at Abusuakrowaa Junction”.

He added that, the Akufo Addo government has completed Asphalt overlain of 298 kilometers of road since 2017 with some the beneficiaries include, Kwadaso, Suame, Old Tafo, Asante Mampong, Atwima Nwabiagya South, Subin, Nhyiaeso, Bantama, Obuasi, Afigyase, Asokwa, Ejisu, Juaben, Oforikrom and Bekwai.

The contract was given to Rango Company limited and it’s expected to be completed within 30 months.

….NANA ADDO….

Roads and Highways Minister, Hon. Akwasi Amoako also urged the contractor to ensure free flow of traffic adding that , contractors will start the construction of Kwabre roads in the next few weeks.

.…HON. AMOAKO….

Chief of Kronom Kwapra, Baffour Adu Gyamfi speaking on behalf of Otumfour Osei Tutu II, commended the President for his sod cutting for the commencement of the Suame Interchange.

…BAFFOUR ADU….