Tema Oil Refinery (TOR) has been one of Ghana government's agency that has over the years become a liability, rather than an asset. It is always in the new for only the wrong reasons. A factory that was built to refine crude oil has now turned into only a storage facility and a cash cow for corrupt politicians.
Today, a release by the company announced that, over hundred thousand litres of Gas oil, 18 drums of electrical cables worth USD10.4 million had disappeared.
According to the Interim Management Committee (IMC) of TOR, it has commenced investigations in this and many more acts of thievery and corruption within its operation, which has led into a substantial lose of products belonging to clients.
The IMC in its release further indicated that 252,000 litres of aviation turbine kerosene has been wrongfully loaded instead of turbine kerosene into a truck in September. They report of a missing LPG belonging to a client too.
Many business-minded politicians who are deemed competent have steered the affairs of TOR. They have all had eggs on their faces. The company is jinx with debt and loses.
In this instance, what it means is that, apart from not able to perform its core mandate of refining crude oil, the basic use of its facility as storage warehouse is also causing the nation trouble through these kinds of thefts.
There is currently a tax component in the price of fuel called, TOR debt recovery level. It is a tax that was introduced by the Kufour administration to defray a debt that was suffocating the company, in order to turn it around.
For over a decade now, this level is still being billed on Ghanaians, yet, TOR's debt keeps sweeping up.
Now, it is about in deep judgement debt too due to lose of client's products.
A more drastic measure should be employed. Government must sack all the workers of TOR. The company must be shut down.
Not until we have people who can make TOR perform the purpose of which it was built by the visionary Kwame Nkrumah in 1963, it must not be operational just because we want to give people jobs. The company is a failure, and nobody deserves salary for working in a useless and non-profitable venture.
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