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BOST margin increment bad; reverse it – Minority to Govt

Wed, 3 Jun 2020 Source: laudbusiness.com

The Ranking Member on the Mines and Energy Committee of Parliament, Adam Mutawakilu, has said the government took a bad decision to increase the Bulk Oil Storage and Transportation (BOST) Margin.

He said the decision will further worsen the plight of Ghanaians especially in the wake of the COVID-19 and its impact on the local economy.

The National Petroleum Authority (NPA) said in a statement dated 29th May 2020 and signed by its Chief Executive Alhassan Tampuli, that the BOST Margin which used to be three pesewas per litre has been increased by an additional three pesewas.

The NPA said the increment was approved by Cabinet.

“We write to inform you of a review of the BOST Margin in the Price Build-Up (PBU) of petroleum products effective 1st June 2020. This is in line with a decision taken by Cabinet and communicated to the National Petroleum Authority (NPA) by the Ministry of Energy,” the statement said.

But Mr Mutawakilu said the increment goes against the government’s quest to support businesses in the midst of the coronavirus pandemic.

“We’ve come to realize as a Minority that while President Nana Akufo-Addo is giving reliefs to Ghanaians, he clandestinely went behind to increase levies, taxes and margins.

“We call on President Akufo-Addo to as a matter of urgency to reverse this 100 percent increase in BOST margin so that Ghanaians who are burdened by COVID-19 will be able to make a good living,” he said.

Source: laudbusiness.com
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