The Africa Centre for Energy Policy (ACEP) has urged the government to commercialise the Bulk Oil Storage and Transportation Company (BOST) and list it on the Ghana Stock Exchange.

ACEP argues that BOST, which charges a GHp 12 margin on each litre of petroleum to fund its operations and maintain strategic reserves, has failed to meet its core mandate. The think tank also claims that BOST has shifted focus, now controlling around 20% of the petroleum import market through the Gold for Oil programme.

Additionally, ACEP points out that BOST generates nearly GHȼ600 million annually from petroleum product margins, yet competes with private businesses that are subject to taxation.

Speaking at a media briefing on January 15, Kodzo Yaotse, ACEP’s Policy Lead for Petroleum and Conventional Energy, suggested that BOST’s continued existence should be re-evaluated. “Given the current market landscape, there is little need for BOST in its current form,” Yaotse said. “If it is to remain, it should be commercialised and listed on the stock exchange, ensuring greater transparency and reducing the cost burden on consumers.”

Source:TheDotNews