44 oil marketing companies closed down with GH₵59m levies owed to BOST

The Chief Executive Officer (CEO) of Bulk Energy Storage and Transportation Limited (BEST) formerly, Bulk Oil Storage and Transportation (BOST) has revealed that 44 oil marketing companies have been closed down with GH₵59 million levies owed to BOST.

According to him, the Oil Marketing Companies (OMCs) collected the money and failed to remit the money to the National Petroleum Authority (NPA) after petroleum products were bought.

He explained that BOST margin is supposed to be collected by the OMCs who sell the product but the company is closed down and they can’t find the directors.

“When the petroleum products are bought, the BOST margin is to be collected by people who sell the product. The OMCs and these OMCs, collect the money and don’t remit the money to NPA for onward transmission to BOST.  When it goes on for a while, the company is closed down, you can’t find the directors. As we speak, those 44, we are in court with about 26 of them for them to pay the money.” He revealed.

aaDr Edwin Provencal said GH₵59 million is a lot of money so they should not let it go waste and for that matter, complaint has been lodged to the Economic and Organised Crime Office (EOCO) and national security is tracking down the directors of these companies for possible prosecution.

“And then for the rest, the companies are dead, you can’t find them. Hopefully, with the power of government, we can raise the veil and go after the directors. We have escalated to EOCO, we have escalated to having some debt collection company with us, we are in court with others. So we are working round the clock to collect these monies but I think because it is government money, we should be able to raise the veil of incoperation and go after the directors and get them to come and pay the money.” He stated.

“Because what they do is that they set up companies, they rack up the BOST margin, they use it for their personal interest and they kill the company. GH₵59 million is a lot of money, we inherited these debts.”

Source:elvisanokyenews.com