• Business

    20% fare hike imminent if government fails to cut petroleum taxes

    The Coalition of Transport Union and Association, representing a significant portion of Ghana’s transportation industry, has issued a stern ultimatum to the government.

    They demand the elimination of multiple taxes from the petroleum price build-up within the next two weeks, failing which they threaten to increase fares by a substantial 20%.

    In a recent statement, the coalition highlighted their primary objective, which is to alleviate what they referred to as “unnecessary pressure” faced by both drivers and consumers in the country.

    The burden of several taxes and levies, specifically the Sanitation and Pollution Levy, the Energy Sector Levy, the Energy Sector Recovery Levy, and the Special Petroleum Tax, is at the core of their grievances.

    The Sanitation and Pollution Levy, intended to fund environmental initiatives, has come under fire for its contribution to the rising cost of transportation. Additionally, the Energy Sector Levy and Energy Sector Recovery Levy have been heavily criticized for their role in inflating fuel prices, thereby increasing the cost of living.

    The Special Petroleum Tax, which was initially introduced as a means to stabilize petroleum prices during market fluctuations, has also been singled out as a significant contributor to the financial strain experienced by drivers and consumers alike.

    Leaders of the Coalition emphasized that they are not seeking to disrupt the economy but are compelled to take action due to the growing financial burden on their members and the public. They argue that the removal of these taxes and levies would lead to more reasonable fuel prices, ultimately benefiting both drivers and consumers.

    Leave A Comment