The government has suspended the implementation of new sulphur levels for petroleum products. The National Petroleum Authority (NPA) from the beginning of this month started implementing the new requirement after pressure from some interest groups because it is said to be injurious to human health and vehicle engines.
This meant that importers are now required to bring in products with lower sulphur levels of 50 PPM, instead of the 500 and 1000 PPMs.
Energy Minister Boakye Agyako told JoyBusiness the action had been influenced by the cost of implementing this policy and some industry concerns. Mr. Agyako said, “You don’t want to introduce a policy where there are major concerns and if you do the social cost benefit analysis you would realized that the externalities of these cost clearly overwhelm any benefits or savings in terms of the pricing.”
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