{"id":274402,"date":"2016-12-05T10:50:48","date_gmt":"2016-12-05T10:50:48","guid":{"rendered":"http:\/\/citifmonline.com\/?p=274402"},"modified":"2016-12-05T10:50:48","modified_gmt":"2016-12-05T10:50:48","slug":"govt-not-subsidizing-goil-terkper-insists","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2016\/12\/govt-not-subsidizing-goil-terkper-insists\/","title":{"rendered":"Govt not subsidizing GOIL- Terkper insists"},"content":{"rendered":"
Finance minister, Seth Terkper has debunked suggestions that government pays subsidies to the Ghana Oil company limited, (GOIL).<\/p>\n
There were reports in the media suggesting that government was subsidizing GOIL.<\/p>\n
But speaking at the company\u2019s annual staff Awards and Dinner night in Accra, Mr. Terkper disclosed that it was rather government that owed the company and\u00a0 commended the company\u2019s leading role in being the mainstay of fuel supply to the security agencies.<\/p>\n
He also lauded the company for its leading role in stabilizing the market.<\/p>\n
Mr. Terkper insisted that the country needs stronger indigenous oil marketing companies and asked the companies to up their game and strengthen their capital base to rub shoulders with other multinationals companies.<\/p>\n
He urged management of \u00a0GOIL to partner the Ghana Infrastructural Fund to construct more fuel tanks to help \u00a0position Ghana as a critical transit point to supply Fuel to other countries in the sub-region.<\/p>\n
In his address, the Group CEO and Managing Director of GOIL, Mr. Patrick A.K. Akorli,\u00a0 said work on the 13.5 million liter Marine Gas Oil tanks at the Takoradi port would be completed\u00a0 in the first quarter of 2017 to open avenues for bigger vessels to be bunkered.<\/p>\n