Price deregulation policy to be reviewed – NPA

The Chief Executive Officer of the National Petroleum Authority (NPA) Dr. Mustapha Abdul-Hamid has disclosed that the price deregulation policy of the petroleum sector is being reviewed.

Addressing the media on Friday, 11 February 2022 in Kumasi after a tour of the Ashanti region, he said a committee was set up and has completed its work on it and has presented its report to him.

Dr. Mustapha said the report will be studied by him and pass it on to the Minister for Energy to also study it.

He said the Minister will decide with his technocrats whether to take it to the cabinet for a proper cabinet decision to be taken on the next face of the deregulation policy.

The policy was implemented in 2015 to allow marketers and importers of petroleum products to set directly, their prices based on import parity costs, taxes, and margins.

It brought an end to government subsidies on the product.

Dr. Mustapha said the policy is being reviewed.

Source: Classfmonline.com