Deal with huge debt profile of BOST – Deputy Energy Minister charges New Board

Deputy Minister for Energy in charge of power, William Owuraku Aidoo has charged the newly constituted Board of BOST to use their expertise to resolve the huge debt profile of the company which was caused by the previous government.

“You have the responsibility to assist the company to manage the debt stock and find innovative ways to monetizing its operations.

“I anticipate that you will work hard to assist the management of BOST to access the company’s share of the Energy Bond to enhance its operations,” he stressed.

He said the Board is also expected to address the company’s inability to keep adequate stock for the national strategic petroleum reserves, owing to lack of funds, delay in upgrading of the depots nationwide to meet international standards and the absence of laboratories in the depots which has created bottlenecks for the analysis of the quality of products.

Hon Owuraku Aidoo reminded the 9 member Board chaired by Dr Kwame Acheampong-Kyei that “BOST has the duty to guarantee availability of petroleum products at reasonable prices” and charged the company to be proactive than reactive in controlling fuel prices indirectly.

“There is the need to forestall the distasteful situation that Ghanaians experienced in 2014 where people, particularly drivers, had to queue for several hours to purchase scare petroleum products at exorbitant prices,” he concluded.

Other members of the Board are Mr Alfred Obeng, Kamal-Deen Abdulai, Hon (Mrs) Angelina Baiden -Amissah and Hon Djorno Bush Alex Tetteh.

The rest are Desmond A. Nartey, Mrs Joyce Agyemang Attafuah, John Kweku Akyene Duncan and Nana Yaw Owusu Akwanuasa.

The New Board Chairman Dr Kwame Acheampong –Kyei who commended President Akufo-Akufo for the appointment pledged the commitment of the Board to work hard to ensure efficiency in the operations of BOST.

“We shall work together with Management of the Company to make BOST more vibrant and profitable.”

“We shall perform this task with unwavering enthusiasm and work consciously and with an abiding believe that BOST is a strategic national company that must play a major role in the social economic transformational agenda of the government,” he added.