The Member of Parliament for Builsa South, Dr. Clement Apaak says Vice President Bawumia has been exposed for attributing Gold for Oil as the cause for fuel reduction in the county.
Vice President in November 2022 first announced the government’s plan to undertake the Gold for Oil policy in which the country will be buying oil products with gold instead of US dollars.
He indicated after this policy announcement that the move will halt the depreciation against major currencies.
However, the Vice President in recent time has said that the government’s Gold for Oil Policy is also the cause of the reduction of fuel prices at the pumps.
But most analysts in the oil sector have refuted the claims by the Vice President.
The Executive Director for Chamber of Petroleum Consumers (COPEC), Duncan Amoah has called on the Vice President to substantiate his claims to Ghanaians.
According to him, the drop in fuel prices at the pumps cannot be attributed to the government’s Gold for Oil policy.
Commenting on the development Mr. Apaak said the Vice President should stop embarrassing himself over the cause of fuel reduction in the country.
“Veep Bawumia has been badly exposed for trying to attribute recent decreases in fuel prices to his opaque pet creation named Gold-for-Oil.
“Experts have called him out, but he is still doggedly swimming against the truth. Honesty saves embarrassment!” the lawmaker stated in a tweet.
Meanwhile, the Executive Director for COPEC says the Vice President Bawumia should juxtapose 115,000 metric tons as against 350,000 tons to be consumed monthly.
“We are simply dealing with a million and fifty thousand metric tons. 100,000 metric tons out of a million metric tons will tell you that a larger chunk of what you and I have been consuming now is being gotten by the BDC’s. Yet the one doing 10% says he has brought down petrol prices.
“I don’t think that is so, Mr. President or Vice President, sorry to say, should come again because the data doesn’t support this assertion.”