The Minority in Parliament has expressed concerns over the potential negative impact on businesses following the government’s agreement with the International Monetary Fund (IMF) and the quarterly adjustments of utility tariffs.
The Caucus predicts a bleak outlook for businesses, citing the government’s plan to raise utility tariffs every three months without consulting the Public Utilities Regulatory Commission (PURC).
They argue that this will exacerbate the already high cost of doing business and worsen the challenging economic conditions.
During a media address, Isaac Adongo, the Deputy Ranking Member on the Finance Committee of Parliament, emphasized the impending consequences of these tariff increases on the Ghanaian population in the coming days.
“Every three months, they will increase electricity and water tariffs without due regard to its impacts on individuals, households, and businesses and this will definitely impact badly in the cost of doing business and feed into the current debilitating inflation and suffering being experienced by Ghanaians.
“Now you go and buy electricity and when you get home, you are afraid to slot the card because the units on the card are not enough, and you will need to go back and buy to top up.”