The Managing Director of Bulk Energy Storage and Transportation (BEST) Company, Edwin Alfred Provencal, has stressed the importance of the BOST margin for maintaining and expanding the company’s infrastructure.
Speaking on Adom FM’s morning show Dwaso Nsem, Wednesday, Mr. Provencal made a case for increasing the BOST margin, a tax imposed on petroleum products used to cover the costs associated with the maintenance and expansion of petroleum depots.
“The BOST margin is essential for fixing and maintaining our infrastructure. Since its introduction in 1993, it has played a crucial role in supporting the upkeep of our depots and facilitating expansion programs” he said.
He further explained that, his outfit generated huge money from the BOST margin, which is a vital component of their revenue.
“This margin represents only 4% of our total income, with other revenue sources including transportation and trading” the BOST MD stated.
Mr. Provencal addressed criticism of the BOST margin, adding that it is necessary for sustaining infrastructure.
“Critics may not fully understand the importance of this margin. Some comments even border on absurdity – I’m not sure if it’s a case of intellectual misunderstanding or are suffering from witchcraft. The BOST margin helps us maintain our equipment and expand our infrastructure” he added.
Mr. Provencal therefore noted that, despite what some may say, they are making profits and investing in infrastructure.
“The margin is essential for our operations, and it’s perplexing to hear criticisms that seem detached from the reality of our work” he added.
Source Adomonline.com | Dorcas Abedu-Kennedy
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