The Chief Executive Officer (CEO) of
the Bulk Oil Distribution Companies
(BDCs), Senyo Horsi, has given
indications the current fuel shortage
across the country will be resolved
by close of Saturday.
Mr. Horsi told Citi News , the part
payment of GHC 450 million by
government has paved way for petrol
to be transported and supplied to the
various fuel stations.
President John Mahama on Friday
ordered the Bulk Oil Storage and
Transport Company to release the
fuel in the country’s strategic
reserves to supply consumers.
Speaking on Citi FM’s News and
Current Affairs Programme, The Big
Issue, Senyo Horsi was certain fuel
will be available at the various filling
stations by close of day today.
He disclosed that “6pm yester night,
payment was finally effected and the
evidence given to me. I submitted via
some of the banks. At 7:30pm
thereabout, an LC [Letter of Credit]
was issued; around 8pm, another was
issued and I’ve had only two BDCs
who have managed to get their letters
of credit out.”
According to him, his outfit was
already taking steps to mitigate the
fuel shortage situation by getting
some foreign counterparts to
“partially underwrite some of the
risks of the debt we have with the
banks on a temporary basis.”
This, he said was to enable them
serve consumers with the product.
Mr. Horsi mentioned that at the Tema
Tank Farm, distribution and loading
of fuel is ongoing therefore, by
midday, the situation will be
progressively normalized.
More Letters of Credit from the banks
are expected on Monday so that the
BDCs can resume the supply of
petroleum products.
Since Tuesday, there has been an
acute fuel shortage across the
country with the worst hit being the
Greater Accra Region.
Motorists have been queuing for days
at fuel stations to get their tanks and
gallons filled with fuel.
Some consumers have expressed
their willingness to allow government
cease the payment of fuel subsidies
to prevent similar future occurrences.
Source:citifmonline
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