The National Petroleum Authority (NPA) has revoked the operating licenses of some Oil Marketing Companies (OMCs) in the country.
This exercise has become necessary because the OMCs are failing to make payments of statutory levies to industry regulators like the Ghana Revenue Authority, Bulk Oil Storage and Transportation, and the National Petroleum Authority.
A sum of around Gh¢200,000,000 is the amount in question as the OMCs have deliberately avoided remitting to the industry regulators all the collected statutory levies.
The Chief Executive Officer of the Association of OMCs, Mr. Riverson Oppong, has shared his views on the matter.
“The details of the directors of these companies are with the NPA. Before any company is issued a license the NPA demands the names of the directors of the company. These names should be made public”, he said stressing that such an action will remove bad operators from the industry.
He further added that some of the directors have multiple OMCs and that means their actions of not paying the levies is deliberate.
“These same directors who established the OMCs and have accrued this debts do have other OMCs running in their names. The question is why would the directors of the companies in debt have other OMCs in the system run in their names”, he queried.