An economist and lecturer at KAAF University, Dr. Eric Bempong, has criticized the government’s Gold for Oil policy, describing it as bogus and ineffective in addressing the country’s economic challenges.
The New Patriotic Party flagbearer, President Mahamudu Bawumia, has said that implementing the Gold for Oil policy will help stabilize fuel prices and reduce the country’s dependence on foreign exchange.
During a panel discussion on Oyerepa Breakfast Time, Dr. Bempong argued that the policy has failed to yield any significant benefits for the economy.
“The Gold for Oil policy is a no-go zone because we are not feeling the impact of it. The high fuel prices are due to taxes on petroleum products. It’s a bogus policy that has no impact on the economy.”
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