May 27, 2024
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Non-performing BOST blamed for constant fuel price increments 

It is emerging that the Bulk Oil Storage and Transportation Company (BOST) is partly to blame for the ever-increasing fuel prices which has seen Ghanaians helpless.

The institution, is said to have totally deviated from its mandate of keeping a strategic stock of fuel for the country at least for four months for periods such as these.

Presently, BOST led by Edwin Provencal, has no petroleum products of its own in its storage facilities, and this has necessitated the quick price increases slapped on consumers anytime there are hikes in the international market.

BOST tanks across the country namely; Tema to Akosombo to Buipe and Bolgatanga, The Herald learnt, have become storage facilities for Bulk Oil Distribution Companies (BDCs) instead of holding strategic stocks in anticipation of price hikes, as well as disasters both man-made and natural.

“The government is becoming unpopular because BOST has no strategic stock to absorb the effect of price hikes on the world market and negotiate with major suppliers with the storage facilities in the country as ready market for their products distribution network in the West Coast”, one insider said. 

Another insider noted that, the drawings were clearly on the wall as a result of the incompetence and lack of depth knowledge about the dynamics of the downstream operations of oil industry primarily by the Managing Director of BOST, Edwin Provencal, thus pushing Ghanaians into the current difficult situation.

Aside the poor management skills, corruption is another problem at BOST, with some board members with ties to the Presidency using their companies for hauling petroleum products on their behalf.

Both the board and management are more concerned about their comfort more than getting BOST to work according to its strategic mandate.

There are reports that the company has ordered Toyota Prado cars for some general managers who number about nine. Two of the Prados are already in and it is been used by Albert Mantey and one Mr Josiah. The remaining Prados are on their way.

Aside from the cars, BOST, has ordered some iPhone 13 for all the general managers as well, when there is no money to buy fuel to stock our tanks across the country.

This comes amid threats of fuel shortage to hit the country as BOST workers want to lay down their tools over poor management and dictatorial tendencies.

They likened their Managing Director, who they alleged earns more than 1.35 million Ghana cedis as a net salary to the late President Mobutu Sese Seko of DR Congo.

According to them, the Managing Director unilaterally issued a memo dated 25th March 2022 to impose his own manufactured “austerity measures” on all Staff without any consideration for the inputs of the staff Unions who are key stakeholders.

The Managing Director ,who among others is affected by the latest Finance Minister directive for “a 50% cut in fuel coupon allocations for all political appointees and Heads of government institutions, including SOEs, effective 1′ April 2022”.

Mr Provencal is said to have unilaterally imposed the same conditions and more on all staff of BOST without any consultation with the Staff Union in charge of the strategic fuel storage asset.

Some staff, say benefits enjoyed since the administration of Kwame Awuah-Darko, have all but vanished under successive MDs and will not sit aloof and allow Provencal to “finish” them.

In a statement intercepted by signed by all Staff Union Leaders of BOST across the country — from Tema to Akosombo to Buipe and Bolgatanga, the Union Leadership said it will announce a swift cause of action to deal with Mr. Provencal, and urged staff to wear red.

“In solidarity with members who heard this demoralizing news from the Managing director, we ask you to put on a red hand band until further notice.” The Union Statement said.

The MD, is accused by some staff of being the worst Managing Director of the company and under whose reign their conditions of service and standard of living has suffered the most despite, he the MD bagging home more than Ghc1.35 million in annual salary minus bonuses and allowance.

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