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Business News Wed, 3 May 2017

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Government cracks down on fuel smugglers

The stage is set for a showdown as government is poised to crack the whip on a cartel in the oil industry which is said to be responsible for.

The cartel, allegedly made up of some powerful business tycoons in society, has purportedly been faking foreign vehicle registration number plates to divert petroleum products meant for export to the landlocked countries.

The underground business is also said to involve the smuggling of inferior fuel products from the high seas into the country, which not only causes revenue loss to the government, but the product is also injurious to human health.

Deputy Minister of Finance, Kwaku Kwarteng, made the revelation when he was accompanied to the Tema Port last week by the Chief Executive Officer of the National Petroleum Authority (NPA), Hassan Tampuli.

According to the minister, the practice involves the diversion of petroleum products consigned for export by the use of fake foreign vehicle registration number plates which are replaced with those of Ghana’s after loading without payment of the appropriate taxes to the government.

The minister also announced the identification of a route to the open sea where super tankers anchor to sell low quality gasoline and diesel to the cartel of ‘goro men.’

The fuel now enters the country through the ports in barges under the guise of sludge coming from vessels at the anchorage, he claimed.

Source: dailyguideafrica.com

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