The price of crude oil has gone down to about $57 per barrel but the National Petroleum Authority has argued that it can only reduce prices, if it is able to clear all the debts owed importers of the products.But Mr. Wereko-Brobbey insists there is no justification for keeping prices unchanged looking at current developments on the world market.He described the NPA’s position as a sham. “As far as I am concerned, I do not accept the argument about over recovery or under recovery.“NPA operates under a law. It cannot decide when to apply the law and when not to apply the law. So it is a sham argument (to say government is recouping the money to pay the BDCs)…this is irresponsible use of public finances.”Although he admitted the country would go through a difficult moment if the Bulk Oil Distribution Companies (BDCs) are not paid and are unable to import crude, he said that is a responsibility government alone should bear.Meanwhile, government has been asked not succumb to mounting pressure by sections of the public for fuel prices to be reduced, Senyo Horsi, Chief Executive Officer of the Chamber of Bulk Oil Distribution Companies has said.He warned that “if we don’t have a clear mechanism – which the banks now see as the over-recovery – for paying the debt, we will dampen funding confidence again and we will go back to June. This is not politics. So the earlier everybody stops the politics about petrol the better”.
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Wireko-Brobbey To Drag NPA To Court Over Fuel Prices
Former VRA boss, Charles Wereko- Brobby says he would soon turn to court to compel the National Petroleum Authority to reduce prices of petroleum products.
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H/T - JoyFMOnline
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