The Managing Director of Bulk Oil Storage and Transportation Company Limited (BOST), Edwin Provencal, has appealed to the government for an increment in the BOST margin.
BOST Margin is a tax imposed on petroleum products used to cover the maintenance and operating cost of petroleum product depots and undertaking expansion programs at depots.
It had remained at 3 pesewas per litre since 2011.
The margin was increased from 6 to 9 pesewas per litre in 2021, a development Energy Minister, Dr Matthew Opoku-Prempeh said it increased the company’s revenue by about 80 percent in 2021.
But Mr Provencal says he would appreciate it if government will increase the margin to 12 pesewas per litre as the current rate is woefully inadequate.
Speaking on Adom FM’s Dwaso Nsem, he said the increment will help them maintain and enhance the deteriorating facilities at BOST and also set up new infrastructure.
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“The BOST margin is solely for infrastructure and we need a lot of money and would appeal for an increment in the margin. I need a minimum of 12 pesewas to construct tank farms in the Western region, Central, Upper West and connect Takoradi pipelines to Kumasi which will require about two billion from petroleum revenue,” he said.