NPP had more permanent fuel relief measures than current GH¢2 diesel cut – Amin Adam

Former Finance Minister and Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, has argued that the NPP implemented broader and more permanent measures to cushion consumers from rising fuel prices than the current GH¢2 reduction in the price of diesel being offered by the government. Dr Amin Adam made the claim in a Facebook post, comparing the current intervention with measures undertaken by the previous NPP administration during periods of elevated fuel prices.

He cited several steps taken by the NPP government, including the abolition of the excise tax on fuel, reductions in the Special Petroleum Tax, conversion of the Special Petroleum Tax from an ad valorem tax to a specific tax, and zero-rating of the Petroleum Stabilisation and Recovery Levy. These measures were supported by legislation and their fiscal effects were absorbed through the national budget, making them more permanent than the current relief.

The NPP also implemented the Gold for Oil programme, which significantly reduced fuel prices after they exceeded GH¢20 per litre, according to Dr Amin Adam.

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