He told the Ghana News Agency in Accra that management is working around the clock and would meet various stakeholders to calculate the percent to reflect the amount.

He said government was ready to pay subsidy on the imported petroleum products already in the market.

The recent reduction came about when the President directed the Vice-President to continue engagement with the Trade Union Congress (TUC) on the possibility of implementing the reduction, taking into cognizance the need for commensurate reduction in transport fares in order to benefit the ordinary citizen.

A communiqué issued in Accra at the weekend, jointly signed by Mr Enoch Teye Mensah, the out-going Minister of Employment and Social Welfare and Mr Kofi Asamoah, the Secretary General of the TUC said “it is agreed to proceed with implementation of the President's concession of a 20 per cent reduction in the recent increase of petroleum prices”.

The communiqué said in pursuance of this the Vice President held a meeting with the transport union operators on the need to reduce transport fares in the face of a reduction in the petroleum prices.

“The TUC agreed to engage the transport unions to achieve some reduction in transport fares in order to benefit the ordinary citizenry,” the communiqué added.

GNA

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