Vice President, Dr. Mahamadu Bawumia, has described the Gold-for-Oil policy as a game changer that will push fuel prices down.
According to him, prices of petroleum products will go down once again at the pumps from tomorrow, March 16, 2023.
Commissioning a new head office for the Bulk Oil Storage and Transportation Company (BOST) in Accra, Dr. Bawumia said the policy is on course to achieve its overall objective of reducing the prices of fuel and easing the pressure on the country’s forex reserve.
“I am happy to note that the Gold-for-Oil policy is the first policy of its kind in Ghana since independence to address this type of balance of payment crisis that we face. In my humble opinion, this is the most important macroeconomic policy intervention to deal with the exchange rate depreciation, fuel prices, food prices, and inflation nexus that we have had”.
Source:Mybrytfmonline.com
