Minority wants probe into GH¢14.25m loss at BOST

Business

June 28, 2017

Source: Eugene Davis/thebftonline.com/Ghana

The Minority in Parliament are calling for full-scale investigations at the Bulk Oil Storage and Transportation (BOST) by government over sale of contaminated petroleum products that is estimated to have caused the state to lose GH¢14.25million in revenue.

Former Deputy Finance Minister, Ato Forson, explained that by the information they have gathered, BOST sold the product to Movenpiina at a price of Gh?1 per litre.

“Somebody is actually taking Ghana’s money of GH¢2.85 away per litre. They sold 5million litres, so 5 million by GH¢2.85 will give us an amount of GH¢14.25million. An amount that has been wrongly misappropriated. An amount that an element of it should have gone to the taxpayer, today we are hearing that an amount of GH¢14.25 million has been lost.

We are calling on the Ghana Revenue Authority(GRA) to accordingly take steps to retrieve the amount of money that should have gone to the taxpayer in the form of the export duty.”

According to the Spokesperson on Mines and Energy, Emmanuel Kofi Armah Buah, they have noted with grave concern the sale of contaminated fuel product to the tune of five million litres to a company known as Movenpiina by the MD of BOST under very dubious and bizarre circumstances.

Addressing journalists at a press conference in Parliament, they contend that under proper regulatory and supervisory protocols, should BOST Co, Ltd experience such high levels of contamination.

“The question to ask is what led to the contamination of these products in the first place. Why was the particular tank in question not properly discharged and cleaned before the intake of the fresh fuel which led to the contamination,” the Minority enquired.

Furthermore, they are demanding the immediate interdiction of the BOST MD- Alfred Obeng Boateng, full scale investigation by the regulatory authorities, the immediate withdrawal of the contaminated product from the market to protect consumers and assurances that this will not recur.

Additionally, the financial loss estimated at GH¢14.25m be retrieved by surcharging the offending officials at BOST in line with the recent Supreme Court decision.

The justification by BOST that the contaminated products were sold for use by manufacturing companies is untenable, the minority added.

The norm and practice is that when such contamination occur, corrective treatment of these products are undertaken by the Tema Oil Refinery through blending.

Available evidence to the Minority is that Movenpiina, was the only company BOST dealt with in the sale of the contaminated product in a sole sourced transaction.

Let’s block ads! (Why?)

Go to Source: BFTonline

Leave a Reply