The Prices Of Fuel Can Solve The Economic Crisis The Country Is Facing So The Government Must Invest More To Make It Stable- COPEC
The Chamber of Petroleum Consumers Ghana (COPEC)has stated that the Bank Of Ghana should channel the “needless” auctioning of dollars on the open market to investing in some critical imports, especially petroleum products.
According to him, if the Central Bank fails to act swiftly, oil marketing companies may be forced to go to the black market.
Speaking to plan B Fm on Ebanoosen hosted by Bohyeba Afriyie mr Sampson Addae head of research and pricing for COPEC stated that the three major reason for the rapid increase of the price of fuel includes the depreciation of the value of the cedis
He indicated that the Bank Of Ghana is more about unnecessaries and not Auctioning the Dollars to oil importers which is not very favorable because if the dollar is Auctioned to oil buyers at good rate the fuel will be sold at a good price.
He added that the price of fuel affects the prices of other goods so to fight the economic crisis we have to work to make the price of fuel stable.
He concluded that the Government of Ghana is capable of correcting the mistakes that is causing the Economic crisis.
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