GOLD FOR FUEL DEAL TO BEGIN EARLY NEXT YEAR

Deputy Energy Minister, Andrew Egyapa Mercer has revealed that the primary transfer of fuel under Ghana's Gold for Oil arrangement will show up on the shores of the country in January 2023.

The Deputy Minister in a meeting with Benjamin Akakpo on the AM Show on Wednesday, said the fundamental arrangement required had been finished for the primary transfer to show up.

"On the tenth, eleventh and twelfth of January, the primary shipment of the completed item will show up in this nation coming from the Unified Arab Emirates. All the fundamental arrangements that should have been executed has been executed.

The Administrator noticed that a huge headway had been put forth as a component of attempts to import modest fuel to Ghana. The Gold for Oil trade arrangement will see the nation getting less expensive fuel in return for Gold.

Costs of fuel are supposed to go down additional after the modest fuel is brought into the market.

Mr. Egyapa Mercer made sense that the arrangement is planned to "praise what it is that the private sector who are administrators inside the space are giving."

As indicated by him, this move by the public authority will ease the heat off the dollar and make it accessible to others to try not to increase tension on the cedi.

It will be reviewed that in November, VP Dr. Mahamudu Bawumia reported the arrangement to handle the nation's "lessening unfamiliar trade saves" and furthermore to address rising costs of oil based goods apparently.

He said the public authority anticipates "this new structure to be completely functional toward the finish of the primary quarter of 2023." Fuel costs at the hour of the declaration were high, all things considered fuel siphons the nation over, with purchasers interesting to the public authority for a mediation.

Hence, an administration designation was dispatched to Abu Dhabi to arrange an arrangement to bring oil based commodities onto the Ghanaian market.

The designation was planned to meet the CEO of the Abu Dhabi Public Oil Organization (ADNOC), King Al Jaber for a potential arrangement.