The Minister for Transport, Mr Kwaku Ofori Asiamah has indicated that commuters will soon see some reduction in their transport fares.
According to him, his Ministry has started a closed door meeting with transport operators and assured that there will be some reductions at the end of these meetings.
“…We have sat down with the transport operators…we need to go through some processes to make sure that the market survey that we have done justifies the decision that we are going to take.
“We have gone through the processes, we are meeting again tomorrow (today) but I can assure the Minority Chief Whip that the transport operators will do something about it.
“I think that in times of difficulties, they have been with us and I am sure that they will not disappoint us this time. They will indeed come out and do some reduction in transport fares,” the Minister said.
He made this known on the floor of Parliament while calling on Members of Parliament to approve a sum of GH¢1,226,619,067. 00 for the Ministry, to enable it undertake its activities in the year 2023. Fuel prices have witnessed a significant reduction in December.
Diesel which was sold at GH¢22 per litre by the end of November has reduced to GH¢19, while Petrol has hit GH¢15.00 from GH¢19.00.
Just yesterday, the Institute for Energy Security (IES) projected that prices of petroleum products are expected to fall significantly, beginning Friday, December 16, 2022.
The IES said the new prices will fall to about GH¢13 and GH¢16 per litre for petrol and diesel, whilst Liquefied Petroleum Gas will go for about GH¢12 per kilogram.
Based on this, commuters have made a clarion call to transport operators to reduce transport fares, but the calls have fallen on deaf ears.
This is what caused the Asawase legislator and Minority Chief Whip, Mr Muntaka Mohammed-Mubarak, who was also contributing to the debate on the motion for approval of GHS 1.23 billion for the ministry to question the Minister as to why transport fares are not witnessing a reduction, even though fuel prices have reduced.
But providing some justification as to why the fares have not been reduced, Minister Ofori Asiamah indicated that a lot go into the determination of transport fares.
He said factors such as rate of depreciation of the currency, the cost of spare parts and fuel are considered, before an increase or a reduction agreement is reached.
“Yes, it is true that fuel prices are coming down drastically, but Mr Speaker, in determining transport fares, there are three elements; depreciation of our currency (which is also improving), the cost of spare parts and cost of fuel.
“All the three factors must give you an average of 10% increment or reduction before you can reduce it,” the Minister said.
He nonetheless assured the House that there will be some reduction in the fares and beckoned on the House to approve the money for his ministry.
The House, under the Speakership of First Deputy Speaker, Mr Joseph Osei-Owusu, consequently approved the estimate for the ministry.
