The Chamber of Oil Marketing Companies (COMAC) has officially welcomed the postponement of the implementation date for the new GHS1 Energy Sector Shortfall and Debt Repayment Levy (ESSDRL) to Monday, June 16, 2025.
This follows intense negotiations and consultations with key government bodies, including the Ministry of Energy and Green Transition, the Ministry of Finance, the National Petroleum Authority, and the Ghana Revenue Authority (GRA).
COMAC had initially rejected the GRA’s directive to begin the levy on June 9, describing the move as coercive and operationally unfeasible.
The directive was issued on a public holiday and communicated over the weekend, leaving oil marketers with less than 24 hours to comply.
COMAC labeled this approach an “institutional ambush” and criticized the lack of prior consultation with industry stakeholders.
In a statement dated June 8, COMAC CEO Dr. Riverson Oppong expressed satisfaction with the revised date, emphasizing that the new timeline reflects the importance of dialogue and partnership among stakeholders.
“This decision reflects the value of dialogue, partnership, and engagement among stakeholders,” the statement said.
The chamber’s insistence on a minimum two-week transition period was aimed at allowing oil marketers adequate time to adjust operations and avoid disruptions, especially for cash-and-carry marketers who had no chance to plan for the levy on stock scheduled for lifting on June 9.
COMAC’s statement concluded by reaffirming its role as an active industry stakeholder and expressing optimism that the revised implementation date would foster cooperation and sustainable compliance with the new levy
“We extend our gratitude to all relevant institutions for their commitment to ensuring a smooth and sustainable implementation of the levy.”
The ESSDRL, set at GHS1 per litre, aims to address shortfalls and repay debts within Ghana’s energy sector. While the levy is crucial for the sector’s financial health, COMAC highlighted concerns about the cumulative tax burden on petroleum products, which already accounts for 22% of the ex-pump price through eight existing taxes and levies.
The new levy would push this figure to 26%, potentially impacting fuel prices and consumer costs.
Source : www.kumasimail.com Kwadwo Owusu
