Business News of Sunday, 3 January 2016
The Ghana Private Road Transport Union (GPRTU) is set to increase transport fares following the latest fuel price increases.
The energy sector levy introduced by government has triggered an almost 30 percent increase in the price of petroleum products since January 1.
The Majority in Parliament rushed through an emergency Energy Sector Levy Bill (2015) that imposed more taxes on petroleum products. It was introduced on December 21 by the Finance Minister and passed after two days.
If the levy had not been increased, diesel prices would have gone down by 10 per cent. Joy News checks have revealed that the 28% price increase has taken effect at the pumps.
Per the regulations of the transport operators, any fuel increase beyond 12 percent warrants a corresponding fare increase.
Chairman of the GPRTU Kwame Kumah told Joy News after a meeting tomorrow by stakeholders, the reviewed prices will take effect immediately.
He, however, could not confirm what percentage the fares would be increased to. According to him, prices of other products such as spare parts, insurance, tyres, road worthy certificates would be considered during the meeting with the Sector Minister.
“We are going to meet with our consultant, consider the prices of other products and sit down with the sector Minister and come up with something,” he said.