The Institute for Energy Policies and Research(INSTEPR) wants government as a matter of urgency to remove the Interim Management Committee(IMC) of the Tema Oil Refinery (TOR) and appoint a substantive Board of Directors and Managing Director who can turnaround the fortunes of the company.
Per the Energy sector review by the think tank, four months on since the IMC was put in place to manage affairs temporarily, the IMC has not solved the serious problems at TOR, which includes non-availability of crude Oil to refine, accrual of indebtedness and improving the financial position of the company to undertake needed upgrades.
It thus disclosed that the IMC has been struggling to pay salaries since they are not generating any revenue insisting the rental of their LPG space only is not enough to offset the GHs 11 million monthly bill to run TOR.
“When an IMC is put in place to run an organization, there is a high level of uncertainty which is counterproductive for staff and business activities.
“Ghanaians are still paying for TOR debt recovery levy which has never been accounted for since its implementation. Government as a majority shareholder of TOR should come out with a clear policy to turn the fortunes of the refinery.”
Source: Ghana/Kasapafmonline.com/102.5 Fm
