Govt releases strategic reserve to ease fuel shortage

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This follows the suspension of the services of Bulk Oil Distribution Companies over government’s indebtedness to members to a tune of GH₵1.5 billion, although the figure has been disputed by government.

The Chief Executive Officer of the Chamber of Bulk Oil Distribution Companies (BDC), Senyo Hosi is reported to have said ‘There is stock available on the market, on the shores of Ghana; but it is just that it is on a financial hold. You pay you get financial access to it from the international suppliers.’

However, the Information Minister said the government has paid part of its debt owed the distributors. Bulk Oil Distribution Companies have received GH¢450 million, he confirmed, adding that process is ongoing to reconcile the actual amount owed the companies.

He also announced that government has facilitated a forex cover of $100m to enable the oil distributors to get oil from their suppliers.

Meanwhile, the police say they have discovered black market dealings in fuel, prompting the IGP to direct district commanders to ‘conduct surprise’ visitation to fuel stations.

Undercover officers are also in town to check fuel stations hoarding fuel, Greater Accra Regional Police Command PRO, DSP Freeman Tettey disclosed on Top Story.

He assured that the exercise will continue to ensure that people stay within the law.

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