The charge of 6 pesewas per litre as margin on petroleum products for the Bulk Oil Storage and Transportation Company (BOS) a strategic source of income for the State will not be taken off anytime soon as suggested by some consumers.

According to Energy Minister, Mathew Opoku Prempeh, the levy is very important for the operations of the state institution and the economy.

Speaking at the Annual General Meeting of BOST, the Minister hinted that the introduction and subsequent increase in the margin to 6 pesewas has increased revenue for BOST by about 80% in 2021.

“I can promise Mr. Chairman that the BOST margin on the price build-up for petroleum products is not going to be taken out anytime soon. We will use the fund efficiently and effectively to protect the citizens against private sector interests which is always about profits for their businesses”.

“The margin will be accounted for and serve the people of Ghana to ensure that petroleum products are available in the country in case of any uncertainty” he said.

The company reported a profit before tax of ¢164 million in 2021.

Board Chairman of BOST, Ekow Hackman told the board that the company has experienced massive transformation and on the path to declare dividends soon.

“Passion, performance and excellence remain at the heart of our business to ensure that we fulfill our mandate as a company and deliver value to the shareholder” he noted.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.