The Chamber of Oil Marketing Companies (COMAC) has formally expressed strong opposition to the Ghana Revenue Authority’s (GRA) directive to enforce the new Energy Sector Shortfall and Debt Repayment Levy (ESSDRL) starting Monday (9 June).
In a letter addressed to the GRA Commissioner-General on Sunday, COMAC described the sudden implementation of the levy, announced on a public holiday and with less than 48 hours’ notice, as “neither lawful nor operationally feasible.”
The group accused the authorities of “institutional ambush,” likening the move to “coercion” characteristic of a military regime.
Concerns ignored
The letter notes that COMAC’s leadership had engaged with the Minister for Energy and Green Transition on 5 June to discuss the levy, proposing three practical measures to mitigate its impact on the petroleum downstream sector.
However, these concerns appear to have been ignored, the statement says.
COMAC highlights that the sector is already burdened with eight taxes and levies, which collectively account for 22% of the ex-pump price. The introduction of the new ESSDRL raises this burden to 26%, posing a serious threat to industry survival, competitiveness, and consumer welfare.
Of particular concern is the short notice given to Oil Marketing Companies (OMCs), especially those operating on a cash-and-carry basis, which have no time to adjust pricing, systems, or inventory management to accommodate the additional cost.
No compliance
The Chamber firmly declared that neither it nor its members will implement the levy on 9 June. It has called for a minimum two-week transition period, suggesting a new effective date of 16 June to allow the industry to prepare adequately for the fiscal change.
COMAC’s letter concludes with a stern warning against the use of abrupt directives, emphasizing the need for respectful engagement with stakeholders rather than what it terms “Rambo-style” commands issued during weekends and holidays.
This development adds to the growing tension between the Ghanaian government and the petroleum industry over fiscal policy and its impact on fuel prices and market stability.
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