Bongo MP Edward Bawa has warned that the ongoing Russia-Ukraine Vawulence will be a major problem for Ghana to run out of diesel in May if the government does not take immediate action to ensure sustainable electricity supply.
Mr Edward, a current member of Parliament's Mining and Energy Committee, told Nasaria Abdul Rahman that sanctions imposed on Russia over the Ukraine war would cause serious damage to the economy by April 22, 2022.
As diesel is unacceptable in Europe and in many parts of the developed world due to its unpopular nature, "many countries do not produce" that oil, making Russia one of the few major diesel producers, he added.
Now that Russia has been banned, and with some severe sanctions against the country, Russia cannot export diesel to other parts of the world. This explains why we have started with shortages which is why now the prices of diesel go up more than when you go to petrol stations, the availability of diesel in the market is decreasing, therefore, the smaller prices available on the market. in the market, most of the cargo is diverted to Europe instead of to West Africa and, therefore, that is a signal and by 22-April, the full effect of penalties will be there so, we will have challenges in getting that oil. ”
The Bank of Ghana must also ensure that the cedi is stable enough in the country, if the country is to use that to get more diesel; said Mr. Edward,
He added that the central bank should be able to "ensure continuous foreign exchange reserves at a fixed price." much, especially diesel and diesel connected to public transport ”.
He said looking at all food trucks from farm gates to markets they all use diesel and most of the trucks use diesel. Therefore, it does not mean that the people whoaa will suffer the most are the ones who are most at risk, ”he added.a
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