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COPEC thanks Prez for dismissing BOST MD

Jun 12
13:06 2018

The Chamber of Petroleum Consumers (COPEC) Ghana has commended President Akufo-Addo for dismissing the former Managing Director of the Bulk Oil Storage and Transportation Company (BOST), Alfred Obeng Boateng.

A release signed by the Chamber’s Executive Secretary, Duncan Amoah, described the decision as an avid display of the president’s disdain for corruption, and hoped the example would deter other duty bearers from engaging in selfish deeds and acts of mismanagement.

Notwithstanding, he called on the president to ensure that the former BOST director gives back to the state all ‘wrongful gains’ he made while in office.

 Mr Amoah noted that the president’s decision on appointing a new Managing Director for BOST would not only boost public confidence but also restore confidence of the business community in the company.

 This, he added, would ensure that global major oil traders, who had “withdrawn from carrying out any business with the company, will now find good reason to renew business operations with BOST.”

 COPEC also noted that the new MD, George Mensah Okley, who is the immediate past Upstream Director at the Ministry of Energy, will bring his rich experiences to bear on the company.

The BOST board was also praised by the Chamber for “standing up to the past MD in his bad dealings that only brought bad press to the company.”Duncan Amoah, in the statement, recounted major scandalous mishaps in the state Bulk Storage and Transportation company that, he said, had resulted largely from series of bad management decisions by the past Managing Director.

 COPEC had raised concerns over such scandals including the sale of over 5 million litres of contaminated fuel, and recently, “the selling of over 1.8 million barrels of crude to two companies at a rate way below the then prevailing market rates leading to huge financial losses to BOST itself and the state at large.”

 These assertions featured BOST and COPEC in constant media confrontations, names calling and claims of death threats which ended in court.The Executive Secretary, thus, falling on the president’s call for all to be active citizens and not just spectators, said this was a right spur for the Chamber’s “continuous appraisal of critical state institutions whose gain or loss affects the ordinary Ghanaian directly.”

 COPEC, he said, and its allied bodies would continue to keenly monitor downstream industry happenings and offer useful contributions that would help improve standards in the oil industry in Ghana.“Our eyes and ears continue to be firmly fixed on key petroleum matters and we will not hesitate at any point in bringing to the attention of authorities any critical issue that affects our collective well-being and the public good at all times,” he added.

 

 

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