Business News of Sunday, 13 August 2017
The newly inaugurated committee set up to investigate the off-spec products at the Bulk Oil Storage and Transportation Company (BOST) has resolved to carry out its mandate with much enthusiasm.
The nine-member committee is confident that its work will lead to a turnaround in the operations at the petroleum products distributing company.
The Chairman of the investigative committee, Dr. Lawrence Darkwah, at the inauguration ceremony by the Energy Minister, Boakye Agyarko assured that the team will work to protect consumers from harm.
“We have been called to do this investigative work; on behalf of my committee, honourable minister, we do accept this opportunity that you have given us and we look forward to doing the best that we can with all the resources that we have and to do it for both country and God,” he said.
In addition, Dr. Darkwah asserted that, “we will deliver and we will cover the three thematic areas as described in our appointment letters and if there be anything that will come to our attention beyond that incorporated in the terms of reference we will let you know, discuss and then take it up.”
The nine member committee was inaugurated last Thursday, August 10, 2017.
The committee will among other things, investigate the circumstances that created the off-spec product and review the transaction.
It follows a Citi Business News report that the Bulk Oil Storage and Transportation (BOST) sold 5 million litres of off-spec petroleum products to Movenpiina Energy in June this year.
The development, which raised a lot of concerns among some industry players, is anticipated to cost the country some revenue losses as well as potentially harm unsuspecting consumers.