Business News of 2014-08-19

Premix fuel shortage hit Tema

Fishermen operating at the Tema Canoe Beach are yet to receive allocations of premix fuel to power their outboard motors for fishing expeditions.

The fishermen, with over 600 canoes last received its allocation a week ago.

Due to the refusal of commercial banks to provide letters of credit to the Chamber of Bulk Oil Distribution Companies (BDCs), the country is hit with shortage in the supply of premix fuel and diesel.

Nii Odamettey, Tema Awudum Chief Fisherman, told the Ghana News Agency that instead of its four times a week allocation, they only received one allocation last week.

Nii Odametey said this has resulted in the inability of some of the fishermen to go to sea.

He lamented that the fishermen could not afford to buy “super petrol” and mix it with engine oil, which is an alternative to the premix fuel, due to its high cost.

He explained that while a gallon of premix is sold at GH¢7.10, just a gallon of super exceeds GH¢10, which must be mixed with engine oil which is also an additional cost.

The chief fisherman said the shortage of premix fuel would add to their hardship if the situation is not immediately solved.

According to him, even though the cold weather comes along with the fishing season, they were yet to get a bumper harvest, due to the activities of vessels and the use of light and other unapproved methods of fishing.

He called on the Ministry of Fisheries and Aquaculture to intensify its inspections on vessels to comply with the country's fishing laws.

Nii Odamettey questioned the rationale for the registering of more vessels especially Chinese Vessels to operate and deplete the sea of fingerlings leading to low a catch by canoe fishermen.

Source: GNA
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