Deregulation of petroleum sector will reshape the system - Asaga

The Chief Executive officer of National Petroleum Authority (NPA), Moses Asaga has assured that the government’s decision to deregulate the petroleum sector is a good move.

He said, if government had not weaned itself from price subsidization, the system might still experience a lot of debt issues and liquidation.

The NPA Boss, speaking to Fiifi Banson on Anopa Kasapa on Kasapa FM 102.3, hinted that the government, following the deregulation, will now direct its attention on monitoring of the system to prevent excesses and sanity.

He said although, at this point, there will be the “fear of the unknown,” he thus promised that “once it comes to fruition we will be able to contain it”.

According to him, the NPA still remains a regulator, therefore, it will monitor and sanction any stakeholder that takes advantage of the system following this de-regulation.

He further noted that the Bulk Distribution Companies (BDCs) who are already on-board with the new strategy will have to go and negotiate with the suppliers in their next consignment.