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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Collections under the Energy Sector Levies Act (ESLA) in 2024 fell short of the revised target by GHS 553.92 million, representing a 6% decline, according to the 2024 Annual Report on the Management of Energy Sector Levies and Accounts released by the Ministry of Finance.
Despite being an improvement over the 11% shortfall recorded in 2023, the 2024 performance continues a pattern of underperformance, with an 8% gap also recorded in 2022.
The Finance Ministry attributed the persistent underperformance to prevailing commercial and technical losses within the energy sector, alongside mounting unpaid invoices by consumers of petroleum and electricity.
Source: newsthemegh.com