The Convention People's Party (CPP) says the five per cent hike in petroleum prices by government is unjustified.

Chairman of the party, Nady Nylander told Joy News' Dzifa Bampoe on Tuesday the price increases will deepen the poverty situation in the country.

The National Petroleum Authority (NPA) adjusted the price on Saturday, 1st November, 2009, following the hike in prices of crude oil on the international market.

But the CPP chairman believes consumers cannot be made to pay the full cost of the commodity.

According to him, the continued implementation of an unbridled deregulation policy is an “abdication of government's responsibility,” to the poor which will serve only the interest of a few rich people in the society.

“We cannot, at this stage of our economy throw everything to the highest bidder,” he said, adding the policy will only “throw the economy to the dogs.”

Even though he admits prices of crude oil are partly determined on the international market, he said the country cannot be slaves to the world economy.

He charged government to adopt other creative ways of raising revenue to subsidize future increases for the commodity.

“The government is relying on the same old people and the same old thing time and time again. We can look for more creative ways of bringing some people into the tax net. Then again with the local industry, if we can make the environment good enough for them also there will be more people that we can tax to raise more revenue,” he said.

Story by Nathan Gadugah/Myjoyonline



Source: myjoyonline - Myjoyonline.com