The government has confirmed that the first shipment under the Gold for Oil Policy was actually bought in cash.
Reports abound that the first shipment of oil was purchased with cash from the Bank of Ghana.
Speak in Morning Starr with Naa Dedei Tettey, Deputy Minister of Energy, Andrew Egyapa Mercer confirmed that the first consignment of refined oil in the famous gold program for oil was bought with cash and not exchanged for gold.
The deputy minister of energy further admitted that the purchase was not through barter with Gold but with cash.
But he clarified, the money was not from the Bank of Ghana, but from the sale of gold.
“Furthermore, sometimes there are some who take care of oil and petroleum, so if you give gold for what? So, the program that we are doing is actually being served with a spoon because we have to consider our ability to force products from the market and be able to remove gold to pay or change the oil immediately. So we are not restricted in the suppliers we deal with. How is the problem? In what event is the problem really?
“So really I wonder why we have a tangential issue whether it’s gold for oil barter or gold sold to get oil. At the end of the day what Ghanaian consumers want is that they want to buy fuel when they get to the pump without having to stand there for hours .Ghanaian consumers want competitive prices that will give them value for money,” added the Deputy Minister.
However, the Minority in Parliament called for the program to be suspended until full disclosure and consultation with stakeholders is completed.
Source: starrfm.com.gh
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