Gov't cuts fuel taxes, deploys buses to curb impact of rising fuel prices
Government announced immediate measures to reduce fuel prices following recent increases at the pump. At a press briefing on Thursday, April 9, Felix Kwakye Ofosu said Cabinet directed the Ministers for Finance and Energy to "take immediate steps to reduce the price of fuel through the removal of some taxes and margins on fuel, effective the next pricing window." Cabinet also instructed the Transport Minister to fast-track the deployment of newly acquired Metro Mass buses.
The intervention to cut fuel prices will take effect from the next pricing window, expected within a week, and will remain in force for an initial period of four weeks, after which the situation will be reviewed. 100 Metro Mass buses are currently available, with another batch of 100 buses expected in August, and a final batch of 100 expected in November to make up 300. The Transport Ministry has been tasked to ensure that fares charged by Metro Mass Transit remain lower than those of private operators.
President John Mahama has directed all ministers and senior government officials to strictly comply with the existing ban on fuel allowances and fuel allocations. The measures are designed to mitigate the impact of recent global developments on fuel prices. The recent fuel price hikes are attributed to disruptions in global oil supply, particularly restrictions in the Strait of Hormuz.
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The Ghanaian government is taking action amidst rising fuel prices - a move involving multiple ministries. These measures aim to address the increasing costs, but what impact will they have?
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