Ahead of the 2023 Mid Year Budget Review expected to be delivered by the Finance Minister on July 25, 2023, the Chamber of Petroleum Consumers (COPEC) has cautioned the government to refrain from introducing new taxes on petroleum products.

Executive Secretary of COPEC, Duncan Amoah, in an engagement with the press disclosed that his outfit has received hints of the government's intention to slap new taxes on petroleum products.

In view of this, he has warned that his outfit will not hesitate to bare its teeth to the government if any new tax measure on petroleum products is introduced, and the innocent Ghanaians will be the ones to bear the brunt.

“What I am even picking up from the budget to be read soon is that if Ghanaians are not lucky, there will be newer taxes… But we will issue a warning here. If the government dares us, we will dare them this time. I mean, it’s already crazy. We are trying. When it comes to austerity, what governments across the world will try to do is to provide support and reliefs.”

“But when you are in austerity, and you are taxing even more, you are simply shuttering people’s livelihoods. This is going to be crazy for people. But beyond this, if you are getting new attempts to slap taxes on petrol, which is already high, then the insensitivity, the misalignment. He is probably not diagnosing the problem properly to be able to proffer solutions properly,” he stated.

Meanwhile, the Finance Minister Ken Ofori-Atta is expected to deliver the Mid-Year Review of the Government’s Budget Statement and Economic Policy for the 2023 Financial Year to Parliament tomorrow, Tuesday, 25 July 2023.

This was announced by Deputy Majority Whip Lydia Seyram Alhassan on the Floor of Parliament, on Friday, in Accra, when she presented the Business Statement for the Seventh Week Ending Friday, 21 July 2023.

Mr Ofori-Atta’s presentation will be in accordance with the provisions of the Public Financial Management Act, 2016 (Act 921).

Ghana's Public Financial Management Act of 2016, also known as Act 921, is a legislation that governs the management of public finances in the country. This act establishes the legal framework and procedures for budgeting, accounting, and financial management practices in various government institutions and entities. It aims to promote transparency, accountability, and efficiency in the management of public funds.

During her presentation, Deputy Majority Whip Lydia Seyram Alhassan, who is also a Member of Parliament (MP) representing Ayawaso West Wuogon Constituency, urged her fellow MPs to mark the date and make themselves available for the presentation.

She informed her fellow MPs that Speaker Alban Bagbin had instructed the Business Committee to schedule the Finance, Education, and Food and Agriculture Ministers to provide an update on the issues faced by the National Food Company. In accordance with this directive, the Committee had arranged for the Ministers to appear before the House on Tuesday, 18 July 2023, to brief the MPs on this matter.

“Mr Speaker, a joint Caucus meeting is proposed to be held on Wednesday 19 July 2023, after adjournment to discuss pertinent matters. In this regard, all Members of Parliament are encouraged to avail themselves at the meeting,” she said.

The Mid-Year Budget Review was initially scheduled for 27 July, as announced by the Majority Leader; however, due to concerns raised by the Speaker, the budget review was rescheduled to 25 July 2023.