Show us the Money - COMAC CEO demands full disclosure on 'dumsor levy' windfall
Dr. Riverson Oppong, CEO of the Chamber of Oil Marketing Companies (COMAC), is demanding full transparency on proceeds from the controversial "dumsor levy" as government moves to ease fuel prices. Dr. Oppong said the move was "expected" because "I believe we needed this kind of intervention" but also a "surprise, because I don't know why government would take a decision like this when the war, indeed, today, has been halted." He is calling on the Finance Ministry to disclose the total revenue collected so far, stating "I will personally be glad to hear from the Minister of Finance how much that almost GH¢2 have accrued so far…So let's see what has been gathered so far and what it has been used for."
The government has announced plans to remove some taxes and margins on fuel to cushion consumers, a decision communicated by Felix Kwakye Ofosu following a cabinet meeting on Thursday to assess global economic pressures. Dr. Oppong cautioned that any relief at the pumps may not be immediate, saying "The expectation of this downward movement of fuel globally will take some time…when it was going up it took some time." He believes the "dumsor levy" will be affected, "and that levy probably being suspended for four weeks to bring some leverage."
Dr. Oppong said that if the energy minister and international minister meet, "they will understand which taxes and which emerge that they are going to take a second look at." He believes that it might be a special petroleum tax, or the extra one cedi that you call the dumsor levy suspended.
Quick Summary
COMAC's CEO, Dr. Riverson Oppong, is pushing for openness regarding the "dumsor levy"- as the government plans to lower fuel costs. He wants the Finance Ministry to reveal how much revenue has been collected - and what it's been used for.
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