The Chamber of Petroleum Consumers (COPEC) is advocating for the establishment of a dedicated and independent account to manage the GHS1 fuel levy.
This initiative aims to enhance transparency, promote efficient fund management, and ensure that the revenues generated from the levy are utilized exclusively for their intended purposes.
The GHS1 fuel levy has become an essential component of the petroleum pricing structure, providing a crucial source of revenue. However, COPEC contends that without a separate account for the levy, monitoring and accountability are severely restricted.
In an interview with the media on Monday, Executive Secretary Paul Ofori emphasized the importance of this proposal. He stated that creating an independent account would serve to protect the levy from potential misallocation, ultimately bolstering public trust in the management of these funds.
This appeal comes at a timely moment as the Ministry of Finance seeks public input to shape the upcoming 2026–2029 Budget Statement and Economic Policy. COPEC’s call for an independent account underscores the need for accountability in managing what has become a vital revenue stream for the nation. As discussions unfold, the chamber hopes to see a commitment to greater integrity in the handling of the GHS1 fuel levy.
Source: Apexnewsgh.com
