Chief Executive Officer of Dalex Finance, Joe Jackson, has cautioned government to act with restraint despite growing calls to remove taxes on fuel.
Speaking on JoyNews on April 1, Mr Jackson said, “We shouldn’t be quick to remove fuel taxes. The question we have to ask ourselves is for how long and how far?” he stated.
Mr Jackson acknowledged the pressure on government to ease the burden on consumers but stressed that such decisions must be taken with careful consideration.
“The managers of this economy have exercised admirable discipline to date,” he said, warning against any hasty reversal of policy.
He pointed to ongoing global disruptions affecting oil supply, noting that prices are unlikely to drop in the near term.
“So long as this war continues, the price of fuel is not going to come down,” he explained.
“His comments come as the Ghana Private Road Transport Union (GPRTU) urges government to scrap taxes on petroleum products within two days, warning that failure to act could force transport operators to hike fares nationwide.
He further questioned the long-term implications of removing fuel taxes.
“Are we going to remove this forever? What happens to our oil sector debt? What happens to the revenues that this contributes to the public purse?” he asked.
“I’m advocating for a lot of caution… maybe no adjustment should be done,” he said.
He concluded with a clear message to policymakers: “Take your time. Let the situation be clear before we rush into any decision.”
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Source: www.myjoyonline.com