Former Chief Executive of the NPA, John Attafuah has described as unnecessary, plans by government to slap another levy on petroleum products.
President Mahama yesterday hinted a mitigation levy will be introduced if crude oil price on the world market continues to fall.
The levy, according to the President would be channeled into a fund to cushion consumers should the crude price rise again.
But speaking to Joy Business, Mr. Attafuah indicated this approach would not be effective and would only burden the consumer.
“Every tax on petroleum now is also being taxed again at the 17.5%. Then suddenly, the President is concerned about [the fall in petroleum prices] that he says I want to mitigate your benefit by ensuring that in future if it goes up you…I don’t see the logic.”
Meanwhile Mr. Attafuah says the 10 percent reduction in fuel prices is woefully inadequate.
Listen to John Attafuah below:
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