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Friday, April 19, 2024

Here are business stories that made headlines this week –

In business this week, the Deputy Minister of Finance, Dr. John Kumah, said as part of efforts to reduce the high unemployment rate in the country, government pumped parts of the revenue raked in from the Electronic Transfer Levy (E-Levy) into job creation.

He noted that government allocated funds to its YouStart, National Entrepreneurship and Innovation Programme (NEIP) and Ghana Enterprise Agency to create more jobs for the teeming unemployed youth in the country.

On inflation, the country’s Producer Price Inflation (PPI) for January this year hit 17.4%. This is a 0.8 percentage point increase in the producer inflation relative to the rate recorded in December 2023 [16.6%].

This was disclosed by the Ghana Statistical Service in its latest report.

Also in the oil and gas industry, the National Petroleum Authority (NPA) suspended the approval granted to Sentuo Oil Refinery to sell specific finished fuel products on the market.

The move by the regulator follows investigations it carried out which determined that the Chinese-owned refinery was selling finished petroleum products particularly petrol at a slightly higher price than what was originally approved by the NPA.

Head of Quality Control at the NPA, Ubeidalah Saeed explained that the action was taken after some industry players [IES and COPEC] disputed that Sentuo Oil was not meeting the required industry specifications set by the regulator.

This week’s BizHeadlines was hosted by Ernestina Serwaa Asante.

Watch the latest edition of BizHeadlines below:

Source: www.ghanaweb.com

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