Efforts that have been made in the past to instill the principle of transparency and accountability in the operations of Bulk Oil Storage & Transportation Company Limited (BOST) has been derailed by the current administration of Nana Addo Dankwa Akufo-Addo.
This was made even more difficult due to perceived and, in some cases, real improprieties in the way and manner contracts were signed and executed with the state losing millions of Ghana cedis.
Last week, the newly appointed Managing Director of BOST, Edward Nii Obodai, has called on the government to approve the implementation of the adjusted BOST margin levy of three Ghana pesewas (GH¢0.03) per litre to six pesewas (GH¢0.06) to ensure efficient running of the organization.
He said, “The current BOST margin of GH¢0.03, was implemented in 2011 and has not been adjusted since then even though parliament has ratified that it should be increased to GH¢0.06 in 2017. Meanwhile the company needs more revenue to bring in more products, build infrastructure and trade, among others,” he said in an interview with the B&FT.
Mr Obodai, who chose a rather unproductive path to announce his arrival, did not take into cognisance the difficult times in the country’s economy.
In the opinion of this newspaper, contemplating any implementation in the adjusted margin by even a pesewa, is wrong on right timing and inconsistent with current economic reality.
Tariff is not the final solution to every problem in this country. There are other areas of a regulatory regime that are not properly enforced.
There are issues of misapplication of funds and the award of contracts to people who are not deserving of it.
Since 2017, BOST, alone has seen three Chief Executive Officers (CEOs), Alfred Obeng was relieved of his post because under him the company lost millions of Ghana cedis through shady deals, George Okley, who was brought to clean the mess and bring BOST to the path of growth and progress, was removed for doing the right, Edward Nii Obodai, says he needs additional funds to be able to feed the already fed cows, who are milking the company dry.
Kwame Awuah Darko, run the institution well, under him BOST, became one of the most profitable institutions in the country, he did that, by being innovative and thinking outside the box.
Perhaps, BOST needs a new Managing Director.