Accra, March 24, GNA - The National Democratic Congress (NDC) on Wednesday maintained its stance on the recent hike in the prices of petroleum products, saying it is irrevocably opposed to the increases. "We repeat our request on the Kufuor Administration to review the taxes and levies downwards in order to reduce the prices of petroleum products, which will translate into lower cost of living for Ghanaians," the NDC said in a statement signed by its acting General Secretary, Mr Bede Ziedeng.

The statement was in reaction to various comments made at the fourth People's Assembly held in Accra on Wednesday, particularly by President Kufuor in response to concerns raised by critics on the fuel price increases.

It said the NDC was studying the contents of President Kufuor's statement and would come out with a detailed response shortly. The statement said in responding to the concerns, President Kufuor failed to provide anything new but only rehashed what he said in his Sessional Address to Parliament, the 48th Independence Anniversary celebrations address, and further repackaged by Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning in this year's budget statement.

"He provided no new responses on the issues that have been raised", it added.

It said the initial propaganda that Government was subsidizing fuel prices had been proven to be completely false and, therefore, untenable as Government had been and was recovering full cost of petroleum prices. The NDC said President Kufuor's second argument that petroleum product prices had been increased to be at par with those of neighbouring countries had equally been considered and debunked as having no logical economic basis.

"The last argument that Government needs to raise adequate taxes in order for the country not to be over-reliant on donor support is also begging the question," the statement added.

The Party maintained that the taxes were excessive and had increased the hardships on Ghanaians, thereby worsening their living conditions.