Ghana Parliament Tackles \u00a33.1 Billion Energy Debt with New Levy

Ghana's Parliament Debates Energy Sector Levy Amendment Bill Ghana is facing a critical energy crisis, with a staggering \u00a33.1 billion debt burdening the sector. To address this, the government has introduced the Energy Sector Levy Amendment Bill in Parliament. The bill proposes a levy on petroleum products to generate additional revenue for debt reduction and power supply stabilization. "The power sector is the biggest economic and fiscal risk we face presently," stated a parliamentarian during the debate. The debate also touched upon the challenges of insufficient gas and inefficiencies within the sector. The government hopes to secure an additional \u00a3632 million to restore guarantees previously provided by the World Bank and other institutions. While the proposed levy aims to stabilize the power supply, concerns remain regarding its potential impact on consumers. The government assures that gains from strong performance in other sectors will offset the impact on fuel prices. The passage of this bill is crucial for Ghana's economic stability and energy security.