Heritage news online/wakpenjo/2024
Drivers cannot take the entire blame following decision to increase their respective transport fare by some 15% according to Sammy Gyamfi government must take the larger blame.
On his statistical analysis of figures regarding sale of various petroleum products in the country, the communications officer for the national democratic congress, comrade Sammy Gyamfi, said on his NDC 360 show, the drivers in the country cannot be entirely be blamed for their decision to review upward their transport fare.
According to him, the reckless state at which the government is handling the petroleum sector since handed over the administration of the country, is the reason why the entire country is struggling with transportation.
He said by the close of 2016 when Mahama was voted out of office, a Gallon of fuel petrol and diesel were , 16. 2 cedi respectively. However, when Nana Addo Bawumiah took over from 2017, the cost for the Gallon in 2016 can only buy a liter of fuel under Nana Addo Bawumiah regime.
” you are suffering because of this, drivers are increasing their transport fare because of this. Not because they want to increase, but that was what they had to buy. And you have a car you know what am sayin is true”.
Comrade Gyamfi said, contrary to excuses of Russia Ukraine war the NPP government is giving regarding the surge in fuel price. He believes the strength of cedi as compared to the dollar is the first determinant of the cost of fuel in the country.
That is because all petroleum products used in Ghana for various cars and machines are imported. And when importing, dollar is the required currency denomination.
” Therefore if the government in power who is supposed to make sure the cedi currency becomes strong to stand any foreign trading currency fails to do his work well and the cedi falls apart, and the dollar gains strength over the dollar, petrol and diesel are likely to go up. Because importers of the petroleum products uses dollar to import” he stressed.
He said during the erstwhile Mahama Administration, 1 dollar to a cedi was apparently 4 .20 pesewas by December 2016 and that was the worst performance of the cedi around that time.
However, Now business man who is an importer, needs 15.70 pesewa for the same 1dollar and so the importer who in 2016 needed 10,000 dollars to import any products, per the exchange rate, of 4.20 pesewa to a dollar, he or she needed 42000 cedi. Nonetheless, , due to ravaged and mismanaged economy, an importer needs 157000 cedi for the same 10,000 dollars. that is 1.5 billion and 70,000 old currency just for 10,000 dollars. Difference of 115000. which 1.15 billion old currency.
Because of continuous untamed depreciation of the Ghana cedi cost of living in Ghana under this administration is becoming a problem for the entire country.
Excessive taxes on the petroleum products is another main reason for the surge in the cost of retailing of the products. which the government is adamant on reviewing those nuisance taxes to bring relief to Ghanaians.