\n
The Management of \u2060Strategic Mobilization\u00a0Ghana\u00a0Limited (SML) has said that their operations are collapsing the illegal trade of a cartel in the oil ring.<\/strong><\/p>\nThe company says that they are aware that the cartel is fighting to undermine the Government\u2019s\u00a0fight against illegalities in the\u00a0petroleum\u00a0sector.<\/p>\n
SML\u00a0said this while refuting the claims made about its operations in a recent documentary compiled by the Fourth Estate.<\/p>\n
The Fourth Estate\u00a0in a report published on December 18 said its investigations have disproved wild claims by SML Company that it had helped to save\u00a0Ghana\u00a0billions of\u00a0cedis\u00a0that would have been lost in the downstream\u00a0petroleum\u00a0sector but for its intervention.<\/p>\n
The company also tried to justify why it receives up to GH\u20b524 million monthly payments from the government of\u00a0Ghana\u00a0in a questionable contract it signed with the\u00a0Ministry of Finance\u00a0and the\u00a0Ghana Revenue Authority\u00a0(GRA).<\/p>\n
The Fourth Estate, however, revealed that the company, with the help of a section of Ghana\u2019s\u00a0media, had made false and unsubstantiated claims of its operations that have served as the basis for the payment it received. It appears the\u00a0Ministry of Finance\u00a0and the\u00a0GRA\u00a0were aware the claims were false, for some officials of the\u00a0GRA\u00a0said they had confronted the company about its claims of savings and volumes on two separate occasions.<\/p>\n
A few hours after the reporters confronted the management of SML with the findings of the\u00a0investigation\u00a0and asked for a response, the major services it claimed to render to the government disappeared from the company\u2019s\u00a0website.<\/p>\n
The\u00a0investigation\u00a0also uncovered that at a time players in the downstream\u00a0petroleum\u00a0sector were questioning the relevance of SML\u2019s involvement, the\u00a0Minister\u00a0of Finance,\u00a0Ken Ofori Atta, initiated a more outrageous deal that would entitle the company to over $100 million every year for the next 10 years.<\/p>\n
But SML in a statement said \u201cThe documentary represents a set of misrepresentations, false claims, and a general lack of understanding on the entire operations of the company.<\/p>\n
\u201cWe challenge Fourth Estate to produce any contract anywhere that is for a 10-year period. The 5th\u00a0PPA\u00a0Board at its 46th Board meeting in a letter referenced\u00a0PPA\/CEO\/09\/2286\/23 approved a contract duration of five (5) years.\u201d<\/p>\n
<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
The Management of \u2060Strategic Mobilization\u00a0Ghana\u00a0Limited (SML) has said that their operations are collapsing the illegal trade of a cartel in the oil ring. The company says that they are aware that the cartel is fighting to undermine the Government\u2019s\u00a0fight against illegalities in the\u00a0petroleum\u00a0sector. SML\u00a0said this while refuting the claims made about its operations in a […]<\/p>\n","protected":false},"author":1,"featured_media":133709,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-133708","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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