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.
Latest Stories
-
19 steps for getting over even the most devastating breakup fast
1 hour -
8th Ghana CEO Summit launched with focus on AI transformation, economic diversification
1 hour -
Prof Opoku-Agyemang has not been given a fair appraisal – Ablakwa
2 hours -
Rainstorm wreaks havoc in Keta and Anloga districts, residents count their losses
2 hours -
Global Plastics Treaty negotiations begin in Ottawa as countries converge on phasing out problematic plastic uses
2 hours -
Support energy alternatives adoption to sustain businesses – GUTA tells government
2 hours -
11th DRIF opens in Accra with a call on governments to focus on digital inclusion
2 hours -
Stakeholders outline plans at RE4C Coalition’s General Assembly in Accra
2 hours -
Women Need ‘shock observers’ for active political participation – Ex-Bauchi Assembly Member
2 hours -
2024 polls: Stop fighting over positions in Mahama’s next government – Asiedu Nketiah
2 hours -
Although people may not always listen to the lyrics, there’s still a market for rap in Ghana – E.L.
2 hours -
Passengers appeal to transport operators to officially announce new fares
3 hours -
Damongo: About 400 NPP Members resign over Minister’s alleged meddling in chieftaincy affairs
3 hours -
Next NDC government will pay special attention to women – Naana Opoku-Agyemang
3 hours -
Amerado is singing and it’s good he’s doing that – Lyrical Joe
3 hours