Posted: Friday 27th June 2014 at 20:36 pm

Govt releases strategic reserve to ease fuel shortage


Government has released its strategic reserve to remedy the dire fuel shortage in some parts of the country, Information Minister Mahama Ayariga has announced.

He said President Mahama Friday morning directed that Bulk Oil Storage & Transportation (BOST) Company Limited discharges fuel in its facilities dotted across the country to ease the pressure.

‘BOST started pumping out early part of the day when the president gave the directive,’ he told Evans Mensah on Joy FM’s Top Story Friday.

Fuel stations across the country should soon receive supply of fuel, Mr. Ayariga assured.

Drivers have parked in queues and others have had to comb through town for fuel. The severe situation, which started on Monday, has brought business and other activities to a halt. Some passengers have been left stranded because commercial vehicles were not available.

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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