CBOD, COPEC call for tax evasion on petroleum products is commendable – Energy expert

Energy expert, Dr Yussif Sulemana, has stated that the initiative to get rid of the numerous corrupt activities in the petroleum sector is a step in the right direction.

This follows the birth of the digital petroleum monitoring system implemented by a private digital assurance firm, Strategic Mobilisation Ghana Ltd (SML), which recorded a GH¢744.73-million increment in the value of products lifted between June and December last year, compared to the GH¢133.23 million recorded between the same period in 2019 before the digital monitoring system was deployed.

In an interview with GhanaWeb’s Amos Ekow Coffie, Dr Sulemana said, the initiative to get a digital platform to monitor petroleum products comes after several calls were made by Civil Society Organizations like Chamber of Bulk Oil Distributorsrs (CBOD), Chamber of Petroleum Consumers Ghana (COPEC-GH) and Africa Centre for Energy Policy (ACEP) to develop a system that can help eradicate loses in petroleum revenue.

“The initiative is an excellent one and we must commend the CSO’s for this great move. Several calls were made by them to get this done to rope in more revenue in the downstream sector today we are seeing the effect. COPEC, CBOD, and all the stakeholders who have contributed to this call has made a good decision for the petroleum sector, this will lead to a reduction in tax evasion,” he said.

Listen to the full interview below