The minority in parliament is demanding immediate withdrawal of 100 percent increment in the BOST margin on Petroleum Products.
The National Petroleum Authority (NPA) reviewed the Bulk Oil Storage and Transport (BOST) margin on petroleum products from three pesewas to six pesewas, effective June 1.
This was in line with a decision taken by Cabinet and communicated to the National Petroleum Authority (NPA) by the Ministry of Energy.
A May 29 circular from the regulator and forwarded to the Oil Marketing Companies asked the firms to review the BOST margin in their Price Build Up (PBU) of their Petroleum products by the said date.
But addressing the media in parliament, minority spokesperson on mines and energy, Adam Mutawakilu argued there’s no justification for the upward adjustment of the BOST margin.
“BOST has not been able to prove beyond reasonable doubt, the 3 pesewas per litre given them how much they have used it. And we call on President Nana Akufo-Addo as a matter of urgency to withdraw it, more especially in this pandemic where Ghanaians are suffering.
“We’ve come to realize as minority that, what President Nana Akufo-Addo is giving relief to Ghanaians as a result of covid-19, he clandestinely went behind to increasing levies, taxes and margins. The first attempt was to increase fuel marking margin, they moved to cylinder recovery margin, and then they came to introduce VAT on electricity and now we’re in BOST margin. This is a clear move by the President to ensure that whatever benefit that is due to Ghanaians as a result of Covid-19 is collected from the left hand, after giving it to Ghanaians with their right hand”
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