GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music
No Result
View All Result
GhanaStar
No Result
View All Result
Home News

Energy Expert Claims

February 15, 2018
in News
Share on FacebookShare on Twitter

Ghana is a broke country, but the government has failed to disclose to Ghanaians, the true state of the finances, Energy Expert Ishmeal Agyekumhene has claimed

You Might Also Like

Two People Arrested in Connection with Death of X-Rated American IG Model, Tyger Booty

Ghana’s Parliament Erupts into Chaos as NDC MP whisks away Speaker’s seat

Cedi records highest depreciation against dollar in 36 weeks

Reacting to issues regarding government’s proposal for a 2 per cent reduction in the Special Petroleum Tax on 3FM’s Sunrise morning show Thursday, Mr. Agyakumhene explained government lacks the finances to run the county, hence the introduction of such taxes to generate revenue.

“What I know is that this country is broke and that is something they are not telling us. I am almost certain that if the 15% is so easy for them to remove, they would not have hesitated or gone to parliament only to ask for a 2% reduction,” he claimed

According to Agyekumhene, the Special Petroleum Tax has been factored into the 2018 budget as a major source of revenue generation, hence the difficulty on the part of government in having to scrap it off completely.

“The truth of the matter is that, [in] this country we don’t have money. Taking it off completely is going to have a very significant impact on government projected income in 2018,” he argued

In his estimation, government is financially handicapped, but is failing to communicate such to the general public.

“One of the things that I am not sure this administration is telling us is how dire our finances are. We have not been able to mobilize enough revenue in the first year to be able to say we are letting go of some of the things that were introduced for a specific purpose,” he said.

He has meanwhile accused government for using such means as petroleum taxes to generate revenue for the country.

“Petroleum taxes are a very lazy way of government getting money. They only compute how many volumes of fuel have been sold and slap the taxes on them,” he said.

According to Agyekumhene, the numerous policies such as Free SHS implementation requires a lot of resources to run, and this has necessitated government’s excessive need for finances to keep up.

The Finance Ministry on February 14, laid a Special Petroleum Tax Amendment Bill before Parliament seeking to reduce the Special Petroleum Tax from its current 15% to 13%.

This comes on the back of calls from some Ghanaians especially the Chamber of Petroleum Consumers (COPEC) and the Industrial and Commercial Workers Union (ICU) to register their displeasure with increasing prices on petroleum products.

Some Energy Sector players have also urged government to scrap the Special Petroleum Tax in order to lessen the burden on consumers of petroleum products.

Join GhanaStar.com to receive daily email alerts of breaking news in Ghana. GhanaStar.com is your source for all Ghana News. Get the latest Ghana news, breaking news, sports, politics, entertainment and more about Ghana, Africa and beyond.

Tags: africaBusiness_FinanceCommercial Workers UnionCOPECEconomic Community of West African StatesFinance MinistryGeography of AfricaghanaOil & Gas Refining and Marketing - NECpetroleum productspoliticsworld

Related News

Two People Arrested in Connection with Death of X-Rated American IG Model, Tyger Booty

Two People Arrested in Connection with Death of X-Rated American IG Model, Tyger Booty

by ghanastar
January 2, 2022
0

The Ghana Police Service has announced the arrest of two persons in connection with the death of Julie Diane Williams,...

Ghana’s Parliament Erupts into Chaos as NDC MP whisks away Speaker’s seat

Ghana’s Parliament Erupts into Chaos as NDC MP whisks away Speaker’s seat

by ghanastar
December 1, 2021
0

Ghana's Paliament on Wednesday erupted into chaos with minority and majority members shoving and pushing each other. The heated confrontation...

Cedi records highest depreciation against dollar in 36 weeks

Cedi records highest depreciation against dollar in 36 weeks

by ghanastar
December 1, 2021
0

The local currency is back into free-fall mode against its major counterpart trading currency, the US dollar, as it records...

Meet Paul Mensah – the Ghanaian-Born Engineer Who Led Pfizer Team to Develop COVID-19 Vaccine

Meet Paul Mensah – the Ghanaian-Born Engineer Who Led Pfizer Team to Develop COVID-19 Vaccine

by ghanastar
March 11, 2021
0

Ghanaian-born Paul Mensah is a chemical engineer and the vice president of the bioprocess research and development group at Pfizer...

Next Post

Black Queens Midfielder Priscilla Okyere Laments Their Profligacy In Defeat To Ivory Coast

Black Queens Midfielder Priscilla Okyere Bemoans Missed Chances Against Ivory Coast

Trending News

Emma M’eni Nwu, Emma M’atamfo Nsere Me(Kyere Me W’akwan)

August 20, 2016

Kept By The Power Of God

August 20, 2016

My Hands Are Blessed

August 20, 2016

About

Read today's latest news headlines from Ghana and Africa. Stay up to date on local business, sports, crime, politics, arts, culture, and more.

Categories

  • Africa & World
  • African Music Lyrics Directory
  • Business
  • Business Directory
  • celebrities
  • Computing
  • Diaspora
  • Entertainment
  • Events
  • Feature
  • Featured
  • Ghana Elections 2016
  • Headlines
  • Health
  • International
  • Internet
  • Jobs
  • lifestyle
  • Music
  • News
  • Offbeat
  • Opinion
  • Politics
  • Profiles
  • Religion
  • Security
  • Seth Terkper
  • Smart Home
  • Social Networks
  • Sports
  • Technology
  • Top Stories
  • World News

Tags

accra addo africa Association football Banks - NEC business Business_Finance chairman Donald Trump economy education Entertainment_Culture environment Geography of Africa ghana Ghanaian people government Government of Ghana Human Interest John Dramani Mahama john mahama Law_Crime mahama minister MPs elected in the Ghanaian parliamentary election Nana Addo Nana Addo Dankwa Nana Akufo-Addo National Democratic Congress National Democratic Congress (NDC) New Patriotic Party New Patriotic Party (NPP) nigeria politics Politics of Ghana president Social Issues Social Media Social Media & Networking sports United Kingdom United Nations United States Vice President War_Conflict

Recent Posts

  • Suicide at Aburi Botanical Gardens: Man Found Dead
  • Ghanaian-American Family Suspects Cover-up in Son’s Death at Fort Rucker Military Base in Alabama US
List of Ghana Holidays for 2020
Ghana Geocoding
Ghana Cedis Exchange API
Ghana Maps Service
Toyota Cars Auto Auction History
  • African Music Lyrics Directory
  • Business Directory
  • Diaspora
  • Top Stories

All rights reserved © 2021 GhanaStar.com

No Result
View All Result
  • News
  • Sports
  • Entertainment
  • Politics
  • Business
  • Music

All rights reserved © 2021 GhanaStar.com