ModernGhana logo
28.12.2019 Business & Finance

New BOST MD Embarks On Cost Cutting Mission

By Daily Guide
 Edwin A. Provencal Edwin A. Provencal
Listen to article

The new Managing Director of the Bulk Oil Storage and Transportation Company (BOST), Edwin A. Provencal, has pledged to undertake an aggressive cost efficient agenda aimed at making the company profitable.

Mr. Provencal made this known to the media on Friday, December 27, 2019, in Accra.

According to him, going forward, he would ensure that BOST operated in a cost efficient manner.

Already, he said, he had saved BOST some funds through his cost cutting measures.

For instance, Mr. Provencal revealed that when he was appointed this year, BOST was in the process of repairing four of its barges at a cost of $1.3 million.

He noted that together with his team, BOST was able to repair the barges at a significantly reduced cost of less than GH¢200,000.


He stated that the said barges had been out of service for three years.

Mr. Provencal was appointed Managing Director of the West African nation's strategic oil reserves company following the resignation of George Mensah Okley.

Margin Increment
To help improve the services of BOST and to render quality services to petroleum consumers, he called for an increment of the BOST margin.

He lamented that BOST was currently not efficient in its operations due to lack of funds.

No More Fuel Contamination
Meanwhile, Mr. Provencal pledged to end age-old issue of fuel contamination at BOST.

He disclosed that he has taken steps to ensure that the issue of fuel contamination becomes an issue of the past.

Adverse Effects Of Bad Publicity
Mr. Provencal is the third Managing Director of BOST within three years under the President Nana Akufo-Addo’s administration.

BOST has over the years received bad publicity for a number of reasons, with one of the issues being contaminated fuel that occurred in December 2016.

Mr. Provencal lamented that negative publicity has adversely affected BOST’s international investment flows.

He therefore appealed to the media to partner BOST and project the positive aspects of the company in the interest of the nation.

BY Melvin Tarlue

ModernGhana Links

Join our Newsletter