Gold for Oil deal Archives

14 Mar

It’s Only Fair That Transport Unions Reduce Transport Fares- BOST CEO

wontumionlineFeatured, News, TrendingBOST, Gold for Oil deal

The Managing Director of Bulk Oil Storage and Transportation, Edwin Alfred Provencal, has urged the Ghana Private Roads and Transport Union (GPRTU), to reduce transport fares, as fuel prices have been reduced. Speaking on Movement in the morning show on Movement TV/ Wontumi Radio, he noted that it's just fair that the transport unions also speak to their members to reduce transport fares, as fuel prices, the reason for which the drivers increased transport fares, has been reduced. "I want to use your platform to appeal to the GPRTU that they reduce transport fares. It's not fair that prices of…

14 Mar

G4O Deal Aimed At Reducing Prices Of Everything Including Condoms- BOST Managing Director (VIDEO)

wontumionlineFeatured, News, TrendingBOST, Edwin Alfred Provencal, Gold for Oil deal

The managing Director of Bulk Oil Storage and Transportation (BOST), Edwin Alfred Provencal, has noted the outmost benefit of the Gold for Oil Deal by the government is to reduce the price of fuel to a single digit. Explaining the rationale behind the deal on Movement in the morning show on Movement TV/ Wontumi Radio, he noted the deal is geared towards reducing the pressure on the dollar, which will in turn reduce the prices of oil and will subsequently impact the prices of goods. He noted that when COVID-19 was declared a pandemic, the whole economy worldwide came to…

16 Feb

Gold For Oil Deal To Reduce Pressure On Dollar And Stabilize Cedi- Hon. Fatimatu Abubakar

wontumionlineFeatured, News, TrendingGold for Oil deal, Hon. Fatimatu Abubakar

The Deputy Minister for Information, Fatimatu Abubakar has said that the Gold for oil policy is the only solution to cut the demand of the dollar domestically. Speaking in an interview on Movement in the morning show on Movement TV /Wontumi Radio, the deputy minister noted that "every year, the Government pays an excess of 1billion to the Independent Power Producers (IPP) to purchase fuel to run errands and also pay electricity debts. However, about 20per cent of our import bill is on crude oil." She stressed on the ripple effect of expensive fuel on the populace, adding that when…

20 Jan

Gold For Oil: BOST Begins Selling Of First Consignment Of Fuel

wontumionlineBusiness, Newsbank of ghana, BOST, Bulk Oil Storage and Transportation, fuel prices, Gold for Oil deal

JoyNews can confirm that the Bulk Oil Storage and Transportation Company (BOST) has today, Thursday, January 19 started selling petroleum products procured under the gold for oil barter arrangement. Reports indicate that GOIL and other Bulk Oil Distribution Companies have taken delivery of fuel for the market. However, what is being sold today is only 20 percent of Ghana’s market needs. The Bank of Ghana says consumers should not expect to see an immediate reduction in the price of petrol and diesel at the various fuel pumps. The Head of Financial markets at the Bank of Ghana, Stephen Opata disclosed…