Audio By Carbonatix
Government has released about 100 million dollars to clear some debts owed bulk importers of petroleum products.
This is expected to improve the financial position of these companies for continuous supply of fuel on the market.
The bulk distributors in the past have complained that delays in clearing the 700 million Ghana cedi debt might lead to shortage of the products on the market.
But government on the other hand puts the amount at a little lower than what the companies are quoting.
Chief Executive of National Petroleum Authority Alex Mould told Joy Business, "The BDC (Bulk Distribuiton Companies) were owed about 315 million Ghana cedis, over half of that would be paid leaving a balance of 150 million Ghana cedis.
"There is also a request by the BDC for the government to pay the forex lost that they incurred when the cedi depreciated from 2011 to 2012 and also they are claiming an interest payment of late payment of the subsidies. This is still being reviewed by the NPA, the Ministry of Energy and Ministry of Finance."
Meanwhile checks by Joy Business indicate that the funds are yet to hit the various accounts of the Bulk Distribution Companies.
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.
Tags:
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.
Latest Stories
-
GH¢3.1bn bond sale strengthens fiscal self-reliance, deepens domestic market
1 minute -
Black Stars ‘can’t afford to miss another AFCON’ – GFA ahead of qualifiers
3 minutes -
4,574 health facilities enrolled in free primary healthcare programme
7 minutes -
Weija Dam spillage: Residents appeal for controlled discharge to minimise risks
7 minutes -
Limited opportunities driving engineers out of Ghana – IET GH
7 minutes -
TUC rejects World Bank private sector participation plan for ECG and NEDCo
9 minutes -
Glass door breaks as anxious parents seek SHS placement for wards at GNAT Hall
11 minutes -
Policy consistency needed to boost oil and gas sector – Deloitte Tax Partner
12 minutes -
Ghanaians urged to intensify tree planting and forest protection to combat climate change
13 minutes -
NPP backs 4G rural upgrade, urges government to connect unserved communities first
13 minutes -
Sam George launches AI, robotics bootcamp for 100 young Ghanaians
17 minutes -
GIGS hails UN Equal Earth map adoption as correction to 450 years of injustice
17 minutes -
Two denied bail over alleged lynching of young man at Daboya
20 minutes -
NPP demands answers over 46 rural communities still without telephony service
21 minutes -
GIISDEC takes charge of scrap metal recovery in NAIMOS operational areas
25 minutes