Bumper profits BOST posts mid-annual profits of $21m

This is due to  the completion of the automation processes at the company's depots nationwide. This is according to the Managing Director of BOST, Kwame Awuah-Darko.

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The Bulk Oil Transportation and Storage Company (BOST) has recorded a mid- annual profit of US$21million for 2015.

This is due to  the completion of the automation processes at the company's depots nationwide. This is according to the Managing Director of BOST, Kwame Awuah-Darko, who revealed this  to journalists at a ceremony held in Accra to mark  the signing of the conditions of service (CoS) for the company’s workers.

Under the conditions of service, the management and staff of BOST would be entitled to  a US$2.1 performance bonus package, improved salaries, allowances, bonuses, profit sharing and over-time allowances.

Since 2000, the company has not had any comprehensive conditions of service for its workers since negotiations have always been halted midway.

According to Mr Awuah-Darko, following the completion of the automation processes, the workers’ involvement in the loading and offloading of products at the various loading gantries have been eliminated.

"The use of a dipstick to measure products has also been eliminated, thus if product losses incur beyond a certain level, the transporter is surcharged for the difference", Mr Awuah-Darko stated.

The chairman of the workers’ union, Mr Bernard Owusu, indicated that the restructuring of the company had positively affected the overall performance of workers.

"The union is no longer worried about 13th month pay as improved conditions have over the past nine months has seen unionised staff enjoying quarterly bonuses to a maximum of GH¢700,000", Mr Owusu stated.

While commending the board and management of the company for the remarkable improvement in the appraisal, recruitment, placement and the incentive systems that have been put in place to motivate workers, Mr Owusu also lauded management's decision to interdict three general managers of the company who were alleged to have misappropriated the company’s funds.

"We are in full support of the ongoing investigations and are of the view that whoever is culpable should be made to face the full rigours of the law", Mr Owusu pointed out.

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