The Australia-New Zealand Chapter of the National Democratic Congress (NDC) has commended President John Dramani Mahama and the NDC government for indefinite suspension of the GH₵1 fuel levy in the wake of escalating geo-political tensions in the Middle East expected to spike international crude prices.
President John Mahama had earlier tasked both Ministers of Energy and Finance to monitor the evolving situation in the Middle East and model measures to shield Ghanaians from sudden oil price surges.
While the group praise the President for such a thoughtful directive, it encouraged government to assess the potential impact and take sound policy measures ahead of reintroduction of the levy when market factors become favourable in future.
The group proposed the gold and oil windfalls in the past months and forex exchange gains from sound economic measures bringing down average fuel price to GH₵11 from GH₵17 be invested in productive buffers for all Ghanaians and for the storm ahead.
