The Association of Ghana Industries (AGI) is calling for a suspension of the full price deregulation of the petroleum downstream sector.
According to the AGI, businesses are being stretched and are currently investing heavily in buying fuel to power their operations.
The business community is concerned the two week adjustments in fuel prices will collapse their operations.
President of AGI James Asare Adjei is calling for further engagement with the private sector after the suspension of the policy.
“Looking at the challenges we face today particularly in terms of energy you release that many businesses rely on the use of generators in operating their businesses and we have indicated clearly that we spend about six times on running generator sets than being on the national grid,” he said.
“Therefore having rampant increases in fuel prices under the disguise of deregulation, that is worrying to industry.”
President of AGI James Asare Adjei therefore said the government cannot leave the pricing of fuel which has become an integral part of running business in the country in the hands of very few Ghanaians under the disguise of deregulation for them to reap of the unsuspecting public.
He therefore called on the government to quickly put on hold the deregulation exercise which has taken off and engage the private sector and captains of industry on the matter.