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You Can't Keep On Establishing Your Processing Plant And Purchase From Unfamiliar Treatment Facility

The Office of Oil Purchasers Ghana (COPEC Ghana) has approached the government to find ways to resuscitate the Tema Petroleum Treatment facility and end the importation of fuel from European nations.


Chief Secretary of the Chamber, Mr Duncan Amoah, talking on JoyNews' AM Show on Thursday, said it is inadmissible that the Tema Petroleum Processing plant (Pinnacle) has been inactive and the government keeps on purchasing fuel from an unfamiliar treatment facility.


He noticed that until Ghana upgrades its upper hand with regards to the creation of oil and treatment facilities, dollarization will persevere.


"You can't get rid of dollarization on the off chance that you don't restrict your upper hand. You can't keep on establishing your treatment facility and go to the open market and get dollars just to purchase from an unfamiliar processing plant. You are giving security of occupations to that processing plant as are you additionally helping that economy outside. You have a processing plant, assuming the treatment facility business was terrible, Dangote wouldn't siphon USD12billion into it.


There is a great deal of benefit that gives you the fuel security you want that likewise saves your economy. Since you'd not go through that pattern of fuel importation - getting on the open market, prompting trade of the cedi to the dollar to pay the providers outside. You could be controlling that issue."


As indicated by him, "we want to perceive how to assimilate our upper hand with the goal that we don't go out there to pay cash to a processing plant in Europe when your treatment facility has been left inactive and deserted, nearly."


Tema Petroleum Processing plant (Peak) Restricted is Ghana's just treatment facility laid out in 1963.


JoyNews/AdomNews · You can't keep on establishing your processing plant and purchase from an unfamiliar treatment facility - COPEC to government

Mr Duncan Amoah was answering worries in regards to the climb in fuel costs and how residents can be padded by the public authority.


He noticed that the Mass Oil Stockpiling and Transportation Organization Restricted (BOST) might have saved the nation from its present burdens.


As indicated by him, assuming Pinnacle had been furnished for certain boilers to expand its creation and processing plant, BOST might have retired a portion of the abundances.


Notwithstanding, he noticed that isn't true. Mr Duncan Amoah said BOST is right now not working on its cardinal rule since it is "exchanging and likely giving an extra room to Mass Dispersing Organizations (BDCs)."


In the interim, the Foundation for Energy Security has spoken to the government to quick track its mediation to check the rising fuel costs at the siphons to pad buyers against the overarching difficulties.

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