The Chief Executive Officer of the National Petroleum Authority (NPA), Dr Mustapha Abdul-Hamid, has assured that there would not be astronomical increase on petroleum prices at the pumps due to the suspension of the price stabilisation and recovery levy.
He said the suspension of the levy was intended to stabilise prices and to enable the Transport Ministry to bargain on transport fares on behalf of the public.
“Transport fares have not gone up yet because prices at the pumps for petroleum products remain same and I am hopeful that it would continue for the next two months because the suspension of the price stabilisation and recovery levy is working and we have done our bit.”
Dr Mustapha Abdul-Hamid made these statements in Koforidua yesterday when he met the media during a familiarisation tour of the Eastern Region.
The visit of the CEO, who was in the company of his management team and other officials, was intended to enable him and his entourage to familiariSe themselves with the operations of the organisation and to hold stakeholder consultations with all stakeholders in the petroleum sector.
As part of his tour, he visited fuel stations to check their compliance level.
Abdul – Hamid believes the suspension of the price stabilisation and recovery levy as suggested by his outfit and approved by President Akufo-Addo had yielded results.
He was hopeful the cushioning would empower the transportation ministry to bargain better transportation prices on behalf of the public.
Dr Abdul-Hamid said the National Petroleum Authority established by an Act of Parliament (NPA Act 2005, ACT 691) was mandated to regulate the petroleum downstream industry in the country.
He added that as a regulator, there was the need for the Authority to ensure that the industry remained fair, profitable to all and efficient and ensured that consumers received value for money for petroleum prices.
He noted that since his appointment as CEO, he has gone on several stakeholders consultation with all stakeholders including Oil Marketing Companies (OMCs), dealers of Liquefied Petroleum Gas (LPG), tanker drivers, Security agencies among others in the petroleum sector to enable him work with them to ensure his outfit give off the best and ensure the vision of his outfit was achieved.
“To think about an industry that contributes six per cent to the GDP is to think about an industry that contributes billions of cedis to Ghana’s development efforts and in that same way the publics that this industry deals with are quite wide and diverse.”
He said the stakeholders consultation was necessary to enable all stakeholders resonate with his outfit’s vision, adding that their cooperation and understanding was also needed “so they can pluck into it and advance the cause of the NPA.”
The CEO was determined that the NPA would continue to strengthen stakeholders relationship through the various consultations for the betterment of the sector and for all Ghanaians.
FROM AMA TEKYIWAA AMPADU AGYEMAN, KOFORIDUA
