The president, Nana Addo Dankwa Akufo-Addo has reiterated that his government is working tireless to secure reliable and regular sources of affordable petroleum products for the country.
He made the statement while addressing the nation on the economy challenges on Sunday October 30, 2022.
Admitting the hardship facing the country he mentioned that his government is committed to secure reliable and regular source of affordable petroleum.
“I know that the increasing cost of living is the number one concern for all of us. It is driven by fast escalating fuel prices at the pumps, which is caused by high crude oil prices on the world market and our depreciated currency. I know that this is putting intolerable pressure on families and businesses.
“I know that people are being driven to make choices they should not have to make, and I know that it has led to the devaluation of capital of traders and painfully accumulated savings,” he noted
He further indicated that government will not relent until order is restored.
“Government is working to secure reliable and regular sources of affordable petroleum products for the Ghanaian market. It is expected that this arrangement, when successful, coupled with a stable currency will halt the escalation of fuel prices and bring relief to us all,” the president added.
The President also assured Ghanaians that no institution or individual will lose the funds in Government’s treasury bill as is being speculated due to the current International Monetary Fund (IMF) negotiations.
“I also want to assure all Ghanaians that no individual or institutional investor, including pension funds, in Government treasury bills or instruments will lose their money, as a result of our ongoing IMF negotiations.
“There will be no “haircuts”, so I urge all of you to ignore the false rumours, just as, in the banking sector clean-up, Government ensured that the 4.6 million depositors affected by the exercise did not lose their deposits,” he assured.