The Chief Executive Officer of the Chamber of Bulk Oil Distribution Companies (BDC), Senyo Hosi has cautioned government to\u00a0stop subsidizing petroleum products to the detriment of the industry.<\/p>\n
According to him pricing of petroleum prices is out of the control of the politician. \u2018\u2019Is high time we all accept some few things, pricing is out of control of the politician; please if you can\u2019t do it, don\u2019t talk about it,\u2019\u2019 he said.<\/p>\n
This comes on the back of a warning from the chamber of an imminent shortage of petroleum products in Ghana due to government’s failure to pay\u00a0 the about GHC1.5 billion it owes the chamber .<\/p>\n
According to the BDCs, they will soon not be able to supply petroleum products due to government’s inability to pay the bulk oil distribution companies (BDCs) from subsidies.<\/p>\n
Speaking on Citi FM<\/strong>‘s news analysis and political programme, The Big Issue<\/em><\/strong>, Mr. Hosi warned that Ghana has ”less than a week” of fuel in store.<\/p>\n ”We have less than a week now; I am pretty sure early next week we should be seeing no petrol here and there…,” he said.<\/p>\n He further stated that government cannot continue to subsidize for petroleum products when it does not have the money for it. ”You can’t come saying that you want to subsidize when you don\u2019t have the funds for it; you don\u2019t order what you can\u2019t pay for,” he added.<\/p>\n Mr. Hosi advised government to stay out of the business of subsidizing or pricing and charge the right prices for fuel.<\/p>\n ”The way to sort this thing out is to make sure we don\u2019t keep bleeding; government should please stay out of pricing and charge the right thing so that people can have the product,” he noted.<\/p>\n The CEO of the chamber called for all the full implementation of the automatic adjustment without interference.<\/p>\n \u201cIt is important that as politicians, as a people we are honest about petrol pricing. No politician has control over petrol pricing. Those days are over,\u201d he added.<\/p>\n \u2018\u2019The subsidy is not sustainable; government hasn\u2019t got the capacity, hasn\u2019t got the fund for it,\u2019\u2019 he said.<\/p>\n He revealed that banks have denied them [BDCs] lines of credit because of the rising debt level.<\/p>\n Fuel prices were maintained after the national petroleum authority reviewed them on Monday.<\/p>\n The Bulk Distribution Companies (BDC\u2019s) are a function of the National Petroleum Authority (NPA) whose primary mandate is to wholesale petroleum products and also to import finished products to augment finished output.<\/p>\n <\/p>\n By: Evans Effah\/citifmonline.com\/Ghana<\/p>\n