Finance Minister Dr Cassiel Ato Forson has sparked controversy in Parliament with the introduction of the Energy Sector Levy Amendment Bill under a certificate of urgency to impose new taxes on petroleum products.
The bill, submitted under a certificate of urgency, if approved, will impose fresh taxes on all petroleum products, which Finance Minister Cassiel Ato Forson says is necessary to clear an alarming US$3.1 billion energy debt as of the end of March 2025.
Crucially, Dr Ato Forson assured Parliament today, June 3, that, despite the increment, consumers would not immediately feel the impact at the pumps, attributing this cushioning to the robust performance of the Ghana Cedi.
The Minister detailed the dire financial state of the energy sector, revealing that the US$3.1 billion debt includes significant arrears owed to Independent Power Producers (IPPs), various State-Owned Enterprises (SOEs), and crucial fuel suppliers.
