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Converts out Measures To be able to Cushion The Battling Masses - Okudzeto Ablakwa To Gov't


The Member of Parliament for To the north Tongu constituency and minority spokesperson on Foreign Affairs, Samuel Okudzeto Ablakwa, has asked government to roll out many of measures to cushion the battling masses. He claims taxes on oil is too high plus its about time government remove those taxes to convenience the hardships Ghanaians are going through. Though global prices for crude petrol is sky soaring on daily base due to the ongoing war between Russia and Ukraine, government should find other alternative means to subsidize the price of raw generated within the country in order designed for it to be moved to final consumer.

Speaking On Ok FM's 'Ade Akye Abia' programme, this individual added that supervisors of our economic climate are also not doing enough in regards to the performance of the foreign currency. "The performance of the cedi has brought a nasal area dive and the managers of the economy appear not to care about it. "Like what former president Steve Mahama did, authorities should engage other stakeholders for their varied inputs about how best government can salvage the debilitating economy, " this individual said.

Traders have expressed worry about how exactly they are taking a loss daily due to the poor perfomance of the cedi. In accordance to one of these, “From December 2021 to date, our funds has been exhausted by about sixteen percent. In Dec 2021, when the rate of the cedi to the dollar was GH¢6. 4, a investor can use GH¢640, 500 to buy US$100, 000. Today, as the rate is about GH¢7. six to a buck, the same GH¢640, 000 can buy only US$84, 500, thereby making a loss of US$16, 000 which is the 16 % depletion, ”

"If this should continue for year or two, then We will be able to tell you that Ghanaians will contiunue to wallow in abject low income, " he additional.


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