Ghana’s President John Dramani Mahama has justified the recent paltry reduction of fuel prices in the country insisting that Ghanaians cannot continue to demand a reduction in fuel prices and still expect meaningful development.
Defending the 10 per cent reduction in the prices of petroleum products, the president said Ghanaians cannot eat their cake and have it.
The National Petroleum Authority (NPA) and government have come under pressure to further reduce the prices of petroleum products in accordance with the fall in international market prices of the product.
He said the NPA could reduce the price of the commodity further but that will mean some development projects would have to be sacrificed.
President John Mahama said the NPA could save some money when the prices are relatively low so that when the prices begin to go up again there, will be some level of mitigation.
According to him, the constant demand for fuel price reduction will not help because it is with revenues generated from such windfalls that development projects are done.
The ten percent reduction is very significant and called on Parliament to initiate processes for some mitigation levy to be set up in order to save some of the windfall money for the future, according to him.
African Eye News.com
