John Elton Botwey flanked by Mr. Bernard Owusu and other union executives of TOR&BOST.
Union Staff of the Bulk Oil Storage and Transport Company Limited (BOST) have debunked reports that the institution recorded losses of GH¢32 million between January and September 2016.
The oil storage company said it made profits contrary to media reports.
Reports said that BOST recorded losses after it decided to compete with private sector players in the downstream petroleum sector last year in the distribution of finished petroleum products.
BOST recorded a half-year profit of $21 million for 2015.
The company also stated that paying GH¢1.9 million as bonuses to management and staff of the companies would motivate them.
Speaking at a joint press conference organized by TOR and BOST Senior and Junior Staff Union on Friday, John Elton Botwey, Union Chairman of General Transport Petroleum and Chemical Workers Union, said “in fact, BOST will declare its end-of-year profit in a few days to the people of Ghana and its workers as it does every year, we made a profit of GH¢124 million for the people of Ghana.”
The Union Chairman revealed that as a result of the synergy between BOST and TOR, there was reduction of about $100 million in the importation of finished petroleum products for each month.
“The recovery of TOR & BOST and their subsequent competitiveness on the downstream petroleum sector has left major competitors with no option than to employ the services of mercenary media outfits to sketch a bleak future for the healthy state corporations to ward off investors and truncate public confidence in BOST and TOR.
“Despite the publication of a series of cowardly, ill-informed and outright false stories about BOST and TOR to seek to paint a picture to the contrary, we, in the unions, whose hard work contribute to the success of these organizations, will not sit aloof.”
He further mentioned that the evaluation report about the company’s repair works on its storage tanks was different from the one in the public domain, adding that “the document is incomplete, has no signature, has not been given the GM Technical and has not been approved.
From Vincent Kubi, Tema