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<\/a>\u00a0is reduced.<\/p>\nThe CBOD chief made these comments, when his outfit \u00a0organized a day\u2019s training workshop in Accra on petroleum downstream sector for journalists to \u201cdemystify\u201d the wrongly held opinion that, the sector is a very complicated area.<\/p>\n
According to Mr. Hosi, though the decision by the government to implement the deregulation of prices of petroleum products is commendable,\u00a0Ghanaians need to accept the on-going plan, while politicians change from the \u201cgeneral talk of prices and taxes. Petroleum politics, we should all work to kill it.\u201d<\/p>\n
In his view, the deregulation\u00a0policy,\u00a0if followed will\u00a0ensure constant supply of products, help government not to keep compounding debt, which reduces\u00a0<\/span>the confidence of the various banks who lend credits to these companies for constant supply of the product.<\/span><\/p>\n Historically, various attempts by successive government to subsidize fuel products to cushion the poor, has not \u00a0achieved\u00a0 much result.<\/p>\n Mr. Horsi,believes\u00a0the best way to help these targeted groups, is for government to put in place some pro-poor interventions that will go directly to benefit underprivileged members of the Ghanaian society.<\/p>\n He mentioned one of them as the mass transportation system, which could be enhanced to alleviate the plight of Ghanaians.<\/p>\n In four years, government according to Mr. Hosi, owes the BDCs over GHC 3.4 billion, accruing from under recoveries as of June 18, 2015.<\/p>\n The under recoveries mostly come about as a result of the exchage rate,\u00a0 and price under recovery losses among others.<\/p>\n Ghana\u2019s deregulation policy started in 2005, but the final phase just began last week\u00a0after government washed its hands off the pegging of petroleum products.<\/p>\n The decision at the time, paved way for the sector to allow greater participation of the private Oil Marketing There are a total of 28 of them in the country as of now.<\/p>\n<\/a>\u00a0Companies (OMCs), the BDCs, are licensed to import refined products or offtake from local refineries to wholesale to OMCs.<\/p>\n