TOR must be privatised - Rashid Pelpuo

Government is considering privatising the Tema Oil Refinery to guarantee the proper management of the state asset.

The Tema Oil refinery has been shut down a number of times with some proposing for the complete sale to private investors to manage and make it profitable.

Even as workers of TOR await the opening of the refinery after months of shut down, Minister of State at the Presidency, Rashid Pelpuo said government is considering divesting the refinery to make it profitable.

Speaking on the AM Show on Multi TV, Rashid Pelpuo said government does not find it amusing to see a lot of funds pumped into the state company and still reel in losses.

“The present situation is to look out for other people to help us to manage it and every time it is becoming a drain to our national resources. It is unacceptable.

“I think that if management is the issue let’s get some people on board. Ghana should hold the majority shares; get other people buy into it, let’s all manage it,” he told Joy News Francis Abban.

That he said will make the refinery more profitable.

But Vice Chairperson of the CPP Susan Adu Amankwah objected to the sale of the refinery.

Also speaking on the AM Show, Adu Amankwaa explained that government must do all it can to manage the company and avoid taking the easier option of privatisation.

“What is your wealth? The properties you own and if we are going to sell all our properties what is our wealth,” she said.

She added the refinery can be made far more efficient by firing the incompetent ones.

Selling the refinery is the easy option, she noted.