The Executive Director of the Chamber of Petroleum Consumers (COPEC), Duncan Amoah, has criticized the government for its handling of the energy sector, particularly regarding the Tema Oil Refinery (TOR) and the Bulk Oil Storage and Transportation Company (BOST).
Speaking to the media, Amoah expressed concerns about the government’s priorities and commitment to long-term sector reforms.
Amoah questioned why the government hasn’t utilized a portion of the Energy Sector Shortfall and Debt Repayment Levy to revamp TOR, a crucial state energy asset. He emphasized that reviving TOR would be a strategic move to stabilize the energy sector and reduce dependence on external factors.
Amoah also criticized BOST for operating like a private profit-making entity instead of fulfilling its mandate as a public buffer to protect consumers from price hikes. He questioned why BOST is collecting margins from consumers while behaving like a commercial Bulk Distribution Company (BDC) focused on making profits.
Amoah’s remarks come amid public concerns over high fuel costs and the government’s commitment to rebuilding strategic assets like TOR and enforcing public-interest mandates at BOST. He stressed that the government should prioritize the public interest over profit-making, ensuring that state assets serve their intended purposes.
The COPEC Executive Director’s comments underscore the need for reforms in the energy sector, with a focus on revitalizing state assets and ensuring the proper functioning of public entities, such as BOST. The government faces scrutiny over its management of the sector and its impact on consumers.
Source: Apexnewsgh.com/Ngamegbulam Chidozie Stephen
