The Director of Communications for the main opposition New Patriotic Party (NPP), Nana Akomea, has said deregulation of the petroleum sector “will only be a good idea, if the cedi is stable”’.
He observed that the current strategy will be meaningful only when the strength of the cedi appreciates.
He told Fiifi Banson on Anopa Kasapa on Kasapa FM 102.3 that, the prevailing conditions in the petroleum sector is not occasioned by neither demand and supply nor subsidy issues, but the continuous fall of the cedi.
Earlier on Anopa Kasapa show this morning, the Chief Executive officer of National Petroleum Authority (NPA), Moses Asaga assured that the government’s decision to deregulate the petroleum sector is a good move.
He said, if government did not wean itself from price subsidization, the system might still experience a lot of debt issues and liquidation.