Rev. Dr. Worlanyor Mensah, an Economist, has urged government to create a separate account for the new Ghc1 tax on petroleum products to fix the challenges of the energy sector.
He observed that the government is committed to developing the local economy and will need some resources to do that.
“To develop the local economy you need some level of resources and it’s quite difficult for them to raise so, there is a need for us to look at the inward approach and look within the local economy to see how best we can raise revenue” he said in an interview with Fati Shaibu-Ali on Happy 98.9FM’s Happy Morning show.
Dr. Mensah explained that government needs the money and Ghana cannot continue borrowing hence, imposing the tax is the surest way to solve the situation.
“If they believe we paying the additional taxes will help and if they want Ghanaians to take this policy seriously then, we should be able to create a separate account where these revenues go into and we know we will be able to use these resources for the intended purpose” he stated.
According to him, it will be problematic if that’s not done because the government will end up adding the new tax to the consolidated funds and we will not be able to deal with the issues of accountability.
“So there is the need for the government to create new accounts where these funds will be credited so that we will able to monitor its utilization” he added.
