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2021 budget: Petrol price to go up 5.7% – Mensa-Bonsu

The price of Petroleum products will go up by 5.7% in the coming days, Caretaker Finance Minister Osei Kyei-Mensah-Bonsu told Parliament today during the 2021 budget presentation.

“I should note that on the basis of existing world crude oil prices, the implementation of the two proposed levies for sanitation and pollution as well as to pay for excess capacity charges would result in a 5.7% increase in petroleum prices at the pump,” he said.

He said the COVID pandemic has thrown the government’s budget out of gear hence the need to use other means to cushion the finances of the state.

New Levies Coming

Government is introducing a Covid-19 Health Levy of 1% on Vat, Flat Rate Scheme (VFRS) and a 1% on National Health Insurance Levy (NHIL) as part of revenue measures to help the economy recover.

The Suame lawmaker said the levy “will also assist in the construction of 33 major health projects, the recruitment of more health professionals and agenda 111.”

Agenda 111 would see the construction of 100-bed capacity district hospitals in one hundred and one districts with no hospitals. It is the latest ever investment in healthcare infrastructure in Ghana’s history and a massive vision by the Akufo-Addo led administration for Ghana’s Healthcare sector.

 

Source: Starr FM

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

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