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Wednesday, December 25, 2024

No New Economic Direction in the Oil & Gas Sector – Renaissance Movement

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The Renaissance Movement Sierra Leone has accused the New Direction Government of failing to introduce a new economic direction in the management of the oil and gas sector.
The group which advocates for an effective service delivery for Sierra Leoneans was reacting to the sudden increase in the pump prices of fuel in the country and its corresponding burden on the people of Sierra Leone.
Augustine Marrah a representative of the group have castigated the ruling SLPP government for failing to address what he described as the perennial issues in the sector such as inadequate storage facilities,lack of many players in the sector and the absence of government in the supply and distribution value chain.
He criticized the current leadership for failing to take pro-active measures to address the issues outside the sector with a view to create an enabling environment for the various players in the sector.
The New Direction Government has contended with three fuel increases in almost two years and this has got serious economic issues for ordinary Sierra Leoneans.
Government on their own part has maintained that the problems they inherited are enormous and that it would take time to address them.
Government, the Petroleum Regulatory Agency (PRA) and the three Oil Marketing companies in the country were forced last weekend to slightly increase pump prices of various petroleum products in the country.
The move was about salvaging a looming fuel crisis in the country wherein various oil marketing companies were already hoarding fuel products thereby creating long queues and providing a field day for drivers who have exploited the situation to introduce new transport fares.
Even with the introduction of new government transport fares there is a still huge challenge as the absence of gold coins at the Central Bank is making it difficult for motorists to meet the announced government transport fares for commuters.
The Renaissance Movement is concerned that the introduction of the new transport fares will definitely lead to the exploitation of passengers.

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