General Manager, Communications, and External Affairs of Bulk Oil Storage and Transportation Limited (BOST), Malik Adjei has revealed that Ghana has received Thirty Thousand metric tons of petrol and Forty-Two Thousand metric tons of diesel under the Gold for Oil program.
According to him, the product will soon be on the market.
Mr. Adjei says the product which will have a reasonable price is to ensure Ghanaians benefit from the gold resources.
Mr. Adjei adds that the policy seeks to leverage the government’s capacity to buy gold with the domestic currency to mitigate pressure on the economy.
” Some volumes of products have arrived. We have 30,000 metric tons of petrol and forty-two metric tons of diesel that have arrived and we are preparing to take delivery for onward distribution through the system. This is going to be priced alongside the line of the cost which has to be incurred to bring it into the system.
And because we are sourcing direct and some of the middlemen have been shred off the chain and we are not directly sourcing dollars from the Bank of Ghana for its importation, this one has a reasonable reduction.
All this policy seeks to do is leverage the government’s capacity to buy gold with the domestic currency on the local market to be able to swipe it for the petroleum products so that we are insulated from the pressure the dollar puts on the local currency and it’s ramification for general economic well being of the people,” Mr. Malik Adjei said.
