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    Ghana’s public debt stock hits ¢575.7bn in November 2022; more than 90% of GDP – BoG

    Govt strikes deal with Insurance Association on debt exchange programme

    We must invest in crucial infrastructure to accelerate AfCFTA’s success– Bawumia to African Leaders

    NCCE Chairperson pays courtesy call on BoG Governor

    Feed Africa Summit: African Development Bank to commit $10bn to make continent breadbasket of the world

    Accra never sleeps, neither does The Cosmopolitan …The Cosmopolitan now runs 24/7 [ARTICLE]

    Tax on agro inputs a threat to agribusiness and food security – Analysts

    Completely exempt individuals from DDEP over GAB agreement – Senyo Hosi to govt

    Assin State College receives Dano “Inner Strength” Award

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    Government and Association of Banks reach agreement on DDEP

    DDE: Banks secure 5% coupon for 2023; other revisions

    Cocoa bill payment; BoG, COCOBOD others agree to roll over maturing investments

    AfriCatalyst to host conference on use of Special Drawing Rights to accelerate economic transformation

    Banks seek shorter maturities in local debt-swap deal

    Zenith Bank ceases trustee services in unit trust schemes in Ghana

    Gold for oil policy will reduce pressure on forex – Bawumia

    Ghana best place for business – Nana Addo woos UAE investors

    Registrar of Companies increases fee for business registration

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    MTN to fight $773m tax bill from government

    Telcos to implement 1% E-Levy charge from today

    Huawei Equips 500 Traders in FinTech

    Africans urged to bolster adoption of Bitcoins

    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Meta considered building a Twitter competitor to capitalize on Elon Musk’s ‘crisis’ at company

    E-commerce in Ghana – statistics & facts

    Telcos ready to begin deactivating unregistered SIMs – Chamber of Telecommunications

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    What does 2023 hold? Predictions in payments for the year ahead for Africa

    Nigeria set to stop importation of refined oil and refine its own oil by 2023

    EIU analysts forecast grim economic outlook for Africa in 2023

    AUDA-NEPAD holds workshop for Youth and Media on AU Year of Nutrition

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Gov’t squeezing everything out of Ghanaians – KT Hammond

bycitibusinessnews
July 1, 2015
in Business, Local Economy, Top Stories
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The Mahama administration has been accused of financially burdening Ghanaians with the frequent increases in petroleum and utility prices.

Former Deputy Energy Minister, K T Hammond was of the view that the National Democratic Congress (NDC) government has breached its contract with Ghanaians.

“The contract was not vote for me and I will skin you alive, vote for me and we will take the very oxygen of your existence out of you; that wasn’t the contract. The contract was that government was going to make life reasonable for the good people of Ghana. It doesn’t make sense to me…”

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[contextly_sidebar id=”e0nS9fqlgWuEGPy3RJOjXfl1hOF8bv4y”]From Wednesday, July 1, 2015, Ghanaians will pay 15% more for petroleum products.

Electricity and water tariffs have been increased by 51.73% and 15% respectively.

In an interview on Eyewitness News, K T Hammond charged the Public Utility Regulatory Commission (PURC) to give further details on what went into the calculations which resulted in the 52% increment.

No sympathy for utility companies

The Minority spokesperson on energy said Ghanaians should have no sympathy for utility companies.

“I do not have any sympathy for those who operate the system and keep telling us that the system is suffering, the system is suffering.”

He blamed the lack of revenue on “mismanagement and I for one, I have no sympathy for them at all.”

According to him, Ghanaians pay their taxes, therefore it is the duty of the government “to complement the agenda by at least, fulfilling its part of the social contract.”

“We all know crude oil prices are down; we do know that gas is not very expensive and we are getting our own gas from the Jubilee Fields, Nigeria is supplying us a little bit of gas through the West African gas pipeline; that put together with whatever we are getting out of hydro complement, it should not be this difficult for us.”

IMF cause of petroleum price increment

The Adansi Asokwa Member of Parliament (MP) said the frequent increment in petroleum prices is not as a result of the deregulation the government claims it is undertaking.

He alleged that Ghana is currently operating “an IMF false regime which stipulates that in every two weeks, they should make sure fuel prices were adjusted not downwards but upwards so that seems to be the situation.”

“They have decided that deregulation or no deregulation, they are going to increase… They should run the economy to the glory of God.”

 

By: Efua Idan Osam/citifmonline.com/Ghana
Follow @ osamidan

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