• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

IMF Backs PURC Tariff Hike, Describes Move as Necessary for SOE Financial Stability

5 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
81
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

IMF Backs PURC Tariff Hike, Describes Move as Necessary for SOE Financial Stability

The International Monetary Fund (IMF) has endorsed the recent decision by the Public Utilities Regulatory Commission (PURC) to implement new utility tariff adjustments, citing the move as crucial for the financial sustainability of key State-Owned Enterprises (SOEs).

On Tuesday, April 9, the PURC announced an upward adjustment in utility tariffs, approving a 14.75% increase in electricity tariffs and a 4.02% increase in water tariffs, effective May 2, 2025. The adjustment affects all consumer categories.

Addressing a joint press conference with the Bank of Ghana and the Ministry of Finance, Stephane Roudet, IMF Mission Chief to Ghana, highlighted the importance of the adjustment in helping the Electricity Company of Ghana (ECG) and other SOEs meet their financial obligations.

“The importance of this hike is to support SOEs and also ensure their finances are sustainable,” stated Mr. Roudet. “We are aware of the implications, especially for the vulnerable, but it is necessary to ensure ECG can meet its financial obligations to power producers and guarantee uninterrupted electricity for Ghanaians.”

He further emphasized the need for continuous reforms within the utility sector to prevent the recurrence of legacy debts that have plagued the sector over the years.

In response to growing public concern over the impact of the tariff adjustments on low-income households, Mr. Roudet reiterated the IMF’s commitment to working closely with government to roll out social protection measures aimed at mitigating the burden on vulnerable populations.

RelatedPosts

From the Continent, For the Continent: Building Homegrown Instant Payment Systems to Drive Financial Inclusion in Africa

Ghana’s DStv Standoff: A Warning Signal for Investors

When Prices Feel Like Power: Fix Competition, Not Just DStv 

“We are very mindful of the needs of the vulnerable in society and want to ensure the government implements policies to protect the poor while improving the conditions of workers across all sectors,” he said.

The PURC has also justified the increases, maintaining that despite recent service challenges—including load shedding and erratic water flow in parts of the country—consumers are still receiving value for money, given the rising cost of power generation and water treatment.

The Commission insists that the adjustments are in line with its Automatic Adjustment Formula (AAF), which takes into account variables such as exchange rate movements, inflation, and fuel prices.

Meanwhile, the Consumer Protection Agency (CPA) has challenged the PURC’s decision, calling for an immediate suspension of the planned tariff hikes and demanding the reconstitution of the Commission’s Technical and External Committees to ensure fair representation of consumer interests.

Tags: Describes Move as Necessary for SOE Financial StabilityIMFIMF Backs PURC Tariff HikePURC Tariff HikeSOE Financial Stability

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Africa’s GDP to rise to $15trn on investment in agriculture, industry, service

India Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape Supply

Elon Musk is a Step Closer to Becoming a Trillionaire. Here’s a Look at His Rising Wealth

Gov’t to Proceed With MultiChoice Ghana Shutdown if Company Fails to Cut Prices Today

Hearts of Oak Clinch 2025 Democracy Cup with Narrow Victory Over Great Olympics

Alcaraz Outclass Djokovic to Reach Men’s Final; Dabrowski and Gabriella Capture Women’s Double Title

Trending

Economy

From the Continent, For the Continent: Building Homegrown Instant Payment Systems to Drive Financial Inclusion in Africa

September 6, 2025

From the Continent, For the Continent: Building Homegrown Instant Payment Systems to Drive Financial Inclusion in Africa...

Ghana’s DStv Standoff: A Warning Signal for Investors

September 6, 2025

When Prices Feel Like Power: Fix Competition, Not Just DStv 

September 6, 2025

Africa’s GDP to rise to $15trn on investment in agriculture, industry, service

September 6, 2025

India Rejects U.S. Crude for Nigerian Oil as Sanctions on Russia Reshape Supply

September 6, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.