Category: Business
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GPRTU dissociates itself from decision to increase fares by 40%
The Ghana Private Road Transport Union (GPRTU) has dissociated itself from the decision taken by the Concerned Drivers Association to increase transport fares by 40% from next week. The Concerned Drivers say, the decision to increase fares from January 17, is to ameliorate the unbearable hardships facing drivers. However, GPRTU says there is no future…
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Don’t backtrack on reversal of benchmark value discounts – AGI urges gov’t
The Association of Ghana Industries (AGI) is urging the government not to relent in its goal of implementing the reversal of the reduction in benchmark values policy introduced in 2019. The remark follows President Nana Akufo-Addo’s directive to the Ghana Revenue Authority (GRA) to suspend the planned implementation of the policy reversal, for further consultations.…
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Drivers threaten to increase fares by 40% from January 17
A group of drivers known as the Concerned Drivers Association of Ghana has threatened to increase transport by 40 percent. According to the group, the proposed increase has been necessitated by fuel price hikes at the pumps, the increment in prices of vehicle parts, among others. The increment, according to the group, will begin on…
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NPA assures of measures to ensure prosecution of fuel smugglers
The National Petroleum Authority, NPA, says a comprehensive approach has been instituted to ensure the prosecution of offenders or persons complicit in fuel smuggling in the country. According to the NPA, it has already introduced the Digital Retail Fuel Monitoring System, among others, last year, to address the issue. Ghana currently loses billions of Ghana…
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Fuel price hike: COPEC reiterates calls for review of tax build-up
Following an earlier projection by the Chamber of Petroleum Consumers Ghana (COPEC) that prices at the pump may go up by at least 20 pesewas, various Oil Marketing Companies (OMCs) have begun increasing their prices marginally. Some of the OMCs, however, increased the price of the fuel by just 5 pesewas, despite the price hike…
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Aviation stakeholders confident of a full sector bounce back by Q2 2022
International Airlines operating at the Kotoka International Airport are optimistic of a rebound in their operations this year, despite the impact of Covid-19. The aviation industry suffered from the pandemic with many countries introducing travel restrictions as part of a preventive measure to avert the spread of the virus. But things are gradually returning to…
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Akufo-Addo directs GRA to defer reversal of benchmark value discounts
The President, Nana Addo Dankwa Akufo-Addo, has directed the Ghana Revenue Authority (GRA) to suspend the planned implementation of the reversal of the benchmark value discounts introduced to cushion Ghanaians against price hikes. At a meeting with officials of the GRA and other stakeholders, the President gave a deadline of January 17 for all consultations…
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Vehicle importers urge government to prioritize scrapping nuisance taxes affecting them
The Automobile Dealers Union of Ghana, Importers of vehicles into the country say a recent engagement between the Finance Ministry and stakeholders within the trading space on the issues surrounding the reversal of the reduction in benchmark values policy, will not amount to much. The said meeting which was held on Thursday, January 6, 2022,…
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Drivers unhappy with imminent fuel price increase
Commercial vehicle operators in the capital, Accra have raised concerns about an expected increase in fuel prices in the coming days. Already a major player in the Fuel retail space, Total, has adjusted its prices upwards with petrol now selling at GHS6.8 and diesel GHS6.85. This is an increase from an earlier price of GHS6.65…
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Expect about 20 pesewas increase in fuel prices soon – COPEC
The Chamber of Petroleum Consumers Ghana (COPEC) is projecting fuel prices may go up by about 20pesewas in the coming days. This development is based on a number of factors that have impacted global fuel pricing. Fuel prices currently sell at about GHS 6.6 at the pumps. But there is an expected change in the…