Business News of Tuesday, 3 April 2018
Source: adomonline.com
2018-04-03
BOST is Bulk Oil Storage and Transportation Company
The junior and senior staff unions of the Bulk Oil Storage and Transportation (BOST) have called on government to concentrate on dealing severely with a group of individuals who have formed a cartel in the oil sector and driving prices of petroleum products in the country.
The associations in a statement said this is the only means that will help the government to continuously keep the prices of oil down in the country.
They further charged government to concentrate on retooling BOST which according to them have the capacity to run the oil sector very effectively.
“It is only BOST that has the adequate infrastructure and the human resource capacity to bring the petroleum prices down so government should pay attention to us and ignore the selfish and greedy people who have formed a great cartel that has dominated the industry…,” the group said.
The executives of the two unions led by Mr Abdul Jamil, Mr Ekow Sey, Mr Mampaya, and Mr Newton Godfred Amoh cautioned government against a great cartel in the petroleum industry which they said aim at protecting their selfish interest of making abnormal profit at the expense of ordinary Ghanaians.
They therefore stated that the great cartel has been in the system for long and can only be suppressed when the President, the Vice President, Chief of Staff and the Energy Minister understand the important role that BOST can play to bring petroleum prices down in the interest of the economy and the ordinary consumers of petroleum products.
“It should be noted that although a large number of the population do not have cars to fill directly from the pump, however they indirectly pay for the high petroleum prices when on board a Taxi or Trotro. Therefore, the government cannot leave such a sensitive national issue wholely in the hands of a few private men who have formed a cartel to deceive the state…,” the groups said in a statement.
The senior and junior staff also pleaded with Ghanaians put their political differences aside and support BOST to fight the cartel ‘because they are the cause of the high petroleum prices.’
“Government should know that in the deregulatory petroleum regime like ours without any giant governmental agency playing a role; even if the government removes all taxes the private sector who now controls the industry will replace it with profit in a smart way leaving the ordinary consumers in their vulnerable states. Hence reducing taxes is not the ultimate option.”
The association urged government to be up and doing and be wary of the cartel which they believe are working to ensure the defeat of the party in 2020.