Cedi arrest: Who took the key from IGP? - Kwesi Pratt quizzes Bawumia

• NPP, NDC have always promised to manage fuel prices

• Has Bawumia dealt with the problem of petroleum pricing? Kwesi Pratt questions

•Dirvers are calling on government to scrap nuisance taxes

The Managing Editor of the Insight newspaper, Kwesi Pratt Jnr., has questioned why the ruling government has not reduced petroleum prices given that it is one of the clear promises the governing NPP made during their campaign.

According to him, vice president Mahamudu Bawumia said it was insensitive for any government to be increasing fuel prices, he (Pratt), therefore wondered why he (Dr. Bawumia) has not dealt with the issue of fuel pricing as promised.

He added that an increase in fuel prices always have a rippling effect on the economy which includes the exchange rates.

Pratt further quizzed Dr Bawumia the spike in the exchange rates as despite assuring Ghanaians he had "arrested" the cedi and given the key to the IGP.

“…we were told by Mahamudu Bawumia that he knows how to deal with that problem, has he dealt with that problem, he told us he had arrested the cedi and given the key to the IGP and so on. Who went and took the key from the IGP? Who did the IGP give the key to?” he said.

Speaking at the back of GPRTU call for government to scrap nuisance taxes he said every politician always claim they have solution to manage fuel prices until they come to power.

“When it comes to petroleum pricing, there is no politician in Ghana who has not said that he or she knows how to manage petroleum prices to bring it down”, he added.

“This government promised to reduce petroleum prices, clear promise and said that it was insensitive to be increasing petroleum prices. I recall in 2016, Dr Bawumia angry said it takes only an insensitive government to be increasing prices by a few pesewas then so we are not going to talk about anything. Government has told us they know how to reduce petroleum prices to alleviate the suffering of people in Ghana and I agree with the drivers, they should reduce the petroleum price?" the veteran journalist said on Good Morning Ghana on Metro TV.

“Who is the NDC or NPP has not told us they know how to reduce petroleum prices? They should go ahead and reduce it. An increase in petroleum prices have a rippling effect throughout the economy so when you increase fuel prices it affects everybody and we know the push factors and one of them is the rate of foreign exchange,” he added.

Speaking on the exchange rate the host of the show said Dr Bawumia had indicated that the management of the cedi against other foreign currencies, by the Akufo-Addo-led administration, has been one of the best by any government in its first term, since 1992.

In response, Kwesi Pratt said that was a bad argument as even Kwame Mpiani a renowned economist has said the slowing down of the cedi is artificial.

"Drop that argument, it’s a bad argument so that one of the push factors and other factors are taxes on petroleum product. Why should we load all the taxes on petroleum?” he said.

“Did you listen to Kwame Mpiani recently saying that the cedi slowing down is artificial? He said our cedi is been shoring up by our foreign reserves and he said it is the most reckless way of shoring up the cedi,” he added.

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