Business News of 2014-08-18

Shortage of premix fuel affects fishermen in Accra

Fishermen in Jamestown have expressed fears shortage of premix fuel would have a devastating effect on their industry if nothing is done.

They complain they have been hit with shortage in the supply of fuel for their canoes and that could lead to shortage of fish supply at least within the country’s capital.

Nii Lantey, a fisherman in Jamestown, told TV3’s Sandra Amarquaye that since Friday, they have not had premix fuel. This comes in the midst of shortage of gas oil and Diesel in Accra and other regional capitals.

The situation has been attributed to hesitation on the part of commercial banks to provide letters of credit to the Chamber of Bulk Oil Distribution Companies (BDCs) to get the commodity from vessels.

The banks are reported to have lost confidence in government to pay their debt. The BDCs have hinted that the fuel supply situation may worsen from Monday if nothing is done by government.