The NDC on Wednesday said there is absolutely no reason at this time for panic increases in fuel prices and asked that the blame game by the NPP government must stop.

This is because as the previous government, the NDC did not pile up any debts to sabotage the incoming administration, Mr Simon Abingya, former Deputy Minister of Mines and Energy told a press conference in Accra on the fuel situation and government accounts.

Flanked by Mr Dan Abodakpi, former Minister of Trade and Industry and Mr Victor Selormey, former Deputy Minister of Finance, Mr Abingya said the new government is laying the grounds for increasing fuel prices out of proportion by accusing the NDC government of leaving debts behind, adding that this would bring untold hardships on Ghanaians

Mr Abingya said by March last year fuel prices had soared so high that the government could no longer continue passing the increases to consumers through full-cost- recovery and import-parity-pricing policy.

He said the policy was reviewed which led to the suspension of "any further upward price adjustments in order to alleviate the potentially negative effect" on the economy. The NDC government, he said took note of forecasts at the time, which suggested that crude oil prices were likely decline.

"The anticipated decline in price has finally occurred as world crude oil prices now hover around 24 dollars a barrel from the peak of 35 dollars a barrel", he said.

"The build up losses at Tema Oil Refinery (TOR) is therefore expected to reduce."

Mr Abingya said should prices fall further below 24 dollars per barrel, TOR would be expected to reap the benefits of the surpluses under the NDC import parity policy.

"We are surprised that the impression has been created that there is a deliberate attempt to sabotage the in-coming government by depleting the state coffers.

"The accounts for the 2000 financial year are being prepared by the Accountant-General to be presented to Parliament in the usual manner."

Mr Abingya said the fact that for several years, there have been deficits in government account, at the end of the year, "is a clear indication that we did not have the resources."

"We want to reassure Ghanaians that the NDC Government was in

deed, very careful and judicious in the use of available resources but was faced with the daunting tasks of meeting the needs of employees, students and pressing social needs of the country."

Mr Selormey said since he joined the government in 1993 the coffers had always been empty and yet with prudent policy measures the NDC was able to sustain the economy and prevented it from collapse, adding, "the new government should not be afraid of borrowing".

He said he had acknowledged that the economy was in crisis and had several times called for discussions on it but this had been ignored.

"All that we heard were accusations of corruption, mismanagement and positive change but all the same we have left debts, yes, but we have used the loans on development projects...in providing electricity, good drinking water, good roads... which are legacies for the new government to build upon."

He said, " governments are elected to manage and to solve problems and that the accusations of the NDC of doing this or that or not doing that, are not tenable. We are waiting for the new government to deliver".

Mr Abodakpi said the foreign pledges of about 250 million dollars that were withheld from the NDC have started pouring in.

He said: "We as opposition exist to offer alternative suggestions for policy formulation and the success of the NPP would depend on the co-operation and