The Executive Director of the Centre for Environmental Management and Sustainable Energy (CEMSE), Ben Nsiah has called for the investigation of the management of Bulk Oil Company Limited for under-declaring profit in 2022.
Speaking in an interview on Class FM, he asserted that BOST benefited from about Ghc450 million from the BOST margin which alone could give the profit declared by the company for 2022.
Further, he stated that BOST being a commercial entity runs tank services for BIDECs and trades Petroleum products locally and to neighbouring landlord countries.
Lastly, BOST benefited about $88 million monthly from the Bank of Ghana at cheaper rates compared to market rates through the Gold for oil policy.
Although they got cheaper dollars from the BOG to import finished products, their premiums were in most cases higher than the premiums of private Bulk importers of Petroleum products It is therefore absurd for them to declare about Ghc208 million in 2022
He therefore called for the audit of the financial statements of BOST.
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