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04.05.2015 Headlines

BOST Has Not Been Sold To Nigerians Or Any Institution—Says MD

By Anita Frimpong
BOST Has Not Been Sold To Nigerians Or Any Institution—Says MD
04.05.2015 LISTEN

The Managing Director for Bulk Oil Storage and Transportation Company Limited (BOST), Kwame Awuah–Darko has denied allegation in the public domain including publications about BOST Company being sold to Nigerians and some institutions.

"As far as I am concerned and been the Managing Director for this company, these allegations are never true," he stated.

The BOST MD was addressing a media forum in Accra, indicating that establishment of interest in the company became impossible for them, therefore BOST has to go through changes to position the company well.

Mr. Awuah-Darko said in 2013 the company was in total collapse when he was appointed as Managing Director, but through his effort, capacity and the strong collaboration with the a concerted team members within the company, they have worked effectively and efficient to restructure all that was weak in the company.

He said the effort used in gathering all these, was done through the balanced sheets which gives them the ability and again the restructure of pay rolls.

‘We still need more infrastructure and utilization to be developed within the next 7-8 years and this include restoration petroleum programme and commercial relationship chamber of BDCS."

On BOST and BDCS publication by the Ernst and Young (E/Y) audit report, he said there is on-going relationship with BDCS to resolve any issues raised among the two parties.

The BOST MD said the BDCS has its own negative and positive effects due to the stock balance involved.

"There was never a period where there is reconciliation with physical stock with BDC’s balances."

He therefore announced that BOST is performing well because they had suppliers credit over 2.80million dollars without going to the bank.

Mr. Awuah said their mandate is to have strategic stock, restore sanity since Government policy encourages them to grow.

"Our focus as a company is to maintain supply to the country" he said.

Joshua Sackey, Senior Staff Union Executive of BOST, revert that there is no truth in the allegation of corruption under the present management of BOST as reported in the print and electronic media under the current managing director.

He said there is no political victimization within the company inasmuch as job evaluation has been done during the restructuring exercise..

He therefore appealed to members to remain committed to the Ne OST agenda of becoming the preferred Oil and Gas Logistics company in the country and within the sub region.

On his part, Mr . Bernard Owusu, member of the junior unionized staff appealled to the management to remain resolute and focused in the discharge of their duties since the condition of staff was being reviewed.

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