President Nana Addo Dankwa Akufo-Addo says diminishing expenses on oil-based goods won't be in that frame of mind of the country.
He said the idea was not a practical one because "eliminating charges on oil-based commodities will diminish Government incomes by exactly four billion cedis (GHc4 billion)."
Tending to coordinate work at the current year's May Day festivity at the Independence Square in Accra, the President said "Right now, when still up in the air to extend Government incomes to expand our ability to fund our turn of events, could we at any point bear to diminish charge incomes by four billion cedis (GH¢4 billion)?
The President was answering a solicitation by the Secretary-General of the Ghana Trades Union Congress, Dr. Yaw Baah, for the public authority to suspend all expenses and requirements on oil-based goods, to alleviate the ongoing monetary difficulty confronting Ghanaians due to climbs in fuel costs, food products, and transport passages.
President Akufo-Addo said the Government was at present going up against extremely close funding conditions, right after deficient homegrown income assembly.
"Without a doubt, a portion of the incomes from these equivalent expenses on oil-based goods is utilized to pay a portion of the pay rates of a portion of the 700,000 public area laborers on Government's finance."
The President declared that the public authority was resolving the issue of fuel cost increments by carrying out measures that are prevailing with regard to balancing out the swapping scale, which is a critical determinant of fuel costs.
He said that Government was likewise striving to guarantee dependable stock and accessibility of oil-based commodities to forestall deficiencies being knowledgeable about a few adjoining nations.
President Akufo-Addo reminded Ghanaians that even though the country was an unobtrusive maker of raw petroleum, with an ongoing result of 148,000 barrels per day, "we are as yet a net shipper of oil-based commodities.
"We, thusly, keep on being powerless against the value volatilities of the world market for oil-based goods."
In any case, the President said serious endeavors were in progress to restore the Tema Oil Refinery, to empower it to add to settling petrol costs, which he trusted would before long appear.
He likewise revealed that the public authority was empowering privately owned businesses to layout treatment facilities in the country, one of which was 80% finished and expected to be authorized before the year's end.
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