Veep Calls For Urgent Meeting To Address Challenges With Petroleum Products

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The Vice-President, Kwesi Bekoe Amissah-Arthur, has called for an urgent meeting between stakeholders in the downstream petroleum sector early next week to discuss recent development in the sector.

The meeting which will be attended by officials from National Petroleum Authority (NPA), the Energy Ministry and members from petroleum distributors companies is to deal with the threat of disruption in the supply of petroleum products in the country.

Vice-President Amissah-Arthur requested for the meeting after briefings from Minister of Energy and officials of NPA during the Economic Management Meeting at the Flagstaff House in Accra last Friday.

The Economic Management Meeting reviewed major developments in the economy with regard to current fiscal situation especially the exchange rate, revenue mobilization and government expenditure.

Amissah-Arthur, directed the Ministry of Finance and Economic and the Bank of Ghana to adopt and implement pragmatic measures to halt the depreciation of the cedi.

He also directed all government agencies and departments to ensure that government expenditure is maintained within agreed regime.

The Ministry of Finance was also asked to expedite action on the disbursement of the Chinese Development Bank loan to ensure that Ghanaians realised the benefit of the loan.

On the development in the petroleum sector, Mr Amissah-Arthur requested for an urgent meeting with major stakeholders to deal with the threat of fuel shortage in the country.

He expressed his desire that NPA stick to the automatic adjustment formula for fixing prices petroleum products so that Ghanaian benefit from the formula.

Other issues that received serious attention and immediate direction from the Vice President were projects selected under the Public-Private Partnership policy initiated by the government in 2012.

The Vice-President directed the relevant ministries to ensure that the selected projects commenced as early as possible to enable the objectives of the PPP policy a reality.

Other issues discussed included Ghana’s commitment to the Millennium Challenge Compact II; maximization of government revenue for the 2014 fiscal period; and issues concerning the implementation of the Single Spine Salary after its review in Ho, among others.

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