Economist Dr Joe Abbey is warning against a possible re-introduction of subsidies on fuel.
Early this year, government announced a 15-20 per cent hikes in fuel prices after removing subsidies on the petroleum products but the implication has been deleterious, workers claim.
The workers are threatening strike and industrial unrest if government does not revert to the subsidy regime or provide a corresponding increase in salaries.
But in an interview with Joy News the head of the Centre for Policy Analysis (CEPA) Dr Joe Abbey said the workers must proceed cautiously.
He explained the world is crumbling under heavy debt regime, adding, the world is watching out for countries which are piling up debts due largely to unsustainable policies.
According to him, last year alone, the total amount of debt incurred as a result of subsidy was ¢458 million. That amount, he said, is not sustainable.
He said the country must choose to run an economy free of self inflicted debt or go back to our debt regime caused by subsidy on fuel products.
Joe Abbey called for better communication, and transparency to ease the pressure on government anytime subsidies are removed on fuel.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
From despair to triumph: EDUCARE Trust Fund beneficiary becomes medical doctor
1 minute -
Chief Moomen to unveil Mansa Musa Epic Theater
26 minutes -
Academic City is chartered: Redefining tertiary education in Africa takes full force
30 minutes -
Financing challenges to remain in Ghana, Zambia – Fitch
41 minutes -
GUSA president calls for government aid amid funding crisis
51 minutes -
Cote d’Ivoire gets state of the art Technical Centre thanks to FIFA Forward
1 hour -
Kwasi Kwarteng: Exposing the inconsistencies in NDC’s promise on no academic fees for first-year students
2 hours -
NDC begins interview for MMDCE aspirants in Ashanti Region
2 hours -
Government to release feeding funds for 31 days to senior high schools – CHASS
2 hours -
Tap into reserves for debt repayment amid growing international pressure – Prof Peprah to gov’t
2 hours -
Police arrest 3 in connection with alleged cocoa bean smuggling
2 hours -
Ada Chiefs urge government to ensure safety of Electrochem workers
3 hours -
Local assembly elections must be partisan, current system hasn’t worked for 32 years – IDEG
3 hours -
A Country Called Ghana: Lilwin reveals he paid Ramzy Noah over $40,000 for his role
3 hours -
GFA confirms imminent changes to Black Stars technical team
3 hours