JUST IN! Govt Extends Zero Price Stabilization And Recovery Levy – Details Inside

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The government of Ghana have allegedly extended the zeroing of the Price Stabilization and Recovery PSRL levies for another month as disclosed by the Ghana National Petroleum Authority.

The Ghana National Petroleum Authority further cleared that, the zero Price Stabilization and Recovery PSRL levies which comprise petrol, diesel and all LPG gas should have also been extended on the 31st of December 2021.

However, a statement emanating from the Ghana National Petroleum Authority reveals that the President of Ghana, Nana Akufo Addo have suspended the Price Stabilization and Recovery PSRL levies after the NPA petitioned the government of Ghana to graft measures and means to reduce the effect of the global increase in the petroleum products on the Ghanaian citizens.

“The outlook of prices on the global market shows an upward trend and therefore there was the need to seek government’s intervention to lower the levies to cushion consumers from feeling the full impact of these rising prices. the purpose of the Price Stabilisation and Recovery Levy (PSRL) is to stabilise prices for consumers and pay for the subsidies on Premix Fuel and Residual Fuel Oil (RFO). At this time it is important that the PSRL which is currently sixteen pesewas per litre (GHp16/Lt) on petrol, fourteen pesewas per litre (GHp14/Lt) on diesel, and fourteen pesewas per kilogram (GHp14/Kg) on LPG are zeroed to cushion consumers”, part of the Statement indicated.

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Furthermore, the National Petroleum Authority NPA through their released statement assures that they will ensure effective collaboration between them and the Ministry of Energy plus the Ministry of Finance to hasten the legislative process.

Therefore, this move according to the NPA will ensure that the price Stabilization and Recovery PSRL levies directives from President Nana Akufo Addo will be brought to light as soon as possible for the benefit of Ghanaians.

Source: Wontumi online

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