The Government has confirmed that the first consignment under the Gold for Oil Policy was actually bought with cash.
Reports were rife that the first consignment of oil was purchased with cash
from the Bank of Ghana.
Speaking on Morning Starr with
Naa Dedei Tettey, Deputy Energy Minister, Andrew Egyapa Mercer confirmed that
the first consignment of refined oil under the infamous gold for oil programme
was bought with cash and not exchanged with gold.
The Deputy energy minister further admitted that indeed the purchase was not
done through the barter with Gold but with cash.
He however clarified, the cash was not from Bank of Ghana, but from the sale of
gold.
“Further, there are some that deal in oil and petroleum sometimes, so if you
give them gold what are they going to use them for? So, the program that we are
running is actually spoon-fed because we need to consider our ability to force
products from the market and either liquidate the gold to pay or swap directly
for oil. So that we are not limited in terms of the suppliers that we are
dealing with. How is that problematic? In any event what is the issue really?
“So really I am wondering why we are on a tangential issue of whether it is
gold for oil barter or it is gold sold to procure oil. At the end of the day
what the Ghanaian consumer wants is he wants to buy fuel when he gets to the
pumps without going to stand there for hours. The Ghanaian consumer wants a
competitive price that will enable him to have value for money,” the deputy
Minister added.
However, the Minority in Parliament has called for the suspension of the
programme until full disclosure and consultation with stakeholders are done.
Source: starrfm.com.gh