Bulk Energy Storage and Transportation Limited (BEST), previously known as Bulk Oil Storage and Transportation (BOST), has disclosed that national security is actively tracking down directors of 44 Oil Marketing Companies (OMCs) who have evaded payment of nearly GH₵60 million in levies owed to the organization. These companies collected levies and margins from petroleum product sales but failed to remit the funds to BEST.
Dr. Edwin Provencal, the Chief Executive Officer of Bulk Energy Storage and Transportation Limited (BEST), has revealed that when petroleum products are sold, Oil Marketing Companies (OMCs) are responsible for collecting a designated BEST margin. This margin is meant to be remitted to the National Petroleum Authority (NPA), which then forwards the funds to BEST. However, several OMCs collected these funds but failed to remit them as required, leading to a significant shortfall.
Dr. Provencal also mentioned that BEST is actively working to recover the missing funds. He expressed confidence that, since the money in question belongs to the government, the directors responsible will be held accountable for their actions.
SOURCE: https://dew360.net
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