Serious shortage of petroleum products to hit Ghana from July unless …..
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The country could experience serious shortage of petroleum products from July 2013, unless government releases monies owed bulk distributors of the product.
Joy Business has learnt the distributors have notified government that they might not be able to import fuel for the next three months, due to financial challenges.
The challenges have come about because of government’s failure to settle huge debts owed the distributors.
According to the bulk distributors, the situation has made it difficult for them to secure credits from banks to aid imports of the petroleum products.
The debts are subsidies that government should have paid over the past years to those who bring in the products.
Joy Business has also gathered that the bulk distributors are worried that they have still not seen any payment plan, despite assurances by government to clear the debts in May this year.
The situation, if not quickly addressed, could affect fuel supplies since majority of the petroleum products on the market are brought in by these distributors.
Joy Business
ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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