Accra, Jan. 20, GNA - Government on Tuesday said it was taking steps to keep prices of utilities in check this year. A statement signed by Mrs Florence Boakye, Public Relations Officer of the Ministry of Energy, in Accra said "government does not intend to increase petroleum or utility prices this year. "Currently the country has been blessed with a reasonable level of the Akosombo Lake this year." It noted that, "the Volta River Authority and the Electricity Company of Ghana had put in place cost effective and efficiency programmes that will make it unnecessary for any upward adjustment in tariffs".

The statement was in reaction to publications that sought to create the impression that government had proposed increases in petroleum, electricity and water rates. The publication making rounds had quoted its source as the External Relations Department of the International Monetary Fund. The statement said: "What the IMF did was to advise the Ghana Government to ensure full cost recovery in the operations of petroleum and utility companies."

The statement said arrangements had been put in place to ensure stable prices this year, adding, "it is only when Ghana, like other countries face the risk of fluctuations in the price of crude oil on the international market" that there could be a change. The Ministry reminded all that the Public Utilities Regulatory Commission (PURC) had the sole responsibility to determine price adjustments for the utility companies.