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BOST denies posting GHC32 million loss

The Finder Newspaper last week claimed that between January and September 2016, BOST made GH¢32million (GH¢32,017,779) loss from its trading business.

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play The Finder Newspaper last week claimed that between January and September 2016, BOST made GH¢32million (GH¢32,017,779) loss from its trading business.

The Bulk Oil and Storage and Transportation Company (BOST) Limited has denied reports that it has posted GHC32 million loss.

The Finder Newspaper last week claimed that between January and September 2016, BOST made GH¢32million (GH¢32,017,779) loss from its trading business.

READ MORE: TOR plans to refine 18M barrels of crude oil in 2017

The revelation was contained in the management accounts of BOST covering January to September 30, 2016, the newspaper added.

But at a joint press conference by the workers union of the Tema Oil Refinery (TOR) and the Bulk Oil and Storage and Transportation Company (BOST), the Chairman of the General Transport, Petroleum and Chemical Workers Union at TOR, John Elton Botwey, dismissed the report.

“The Finder continues to publish palpable falsehood citing its dubious sources and concocted documents as propaganda tools to dent the reputation of these two profitable state agencies and its good management under the leadership of Kwame Awuah Darko,” he said.

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Mr Botwey added that BOST's business trading has never been in red since the company started trading, adding that its end of year profits will be declared soon.

He said: “For the records, BOST’s trading business has never been in the red since the company started trading; BOST will declare its end of year profits in the next few days to the people of Ghana and its workers as it does every BOST year and needless to emphasise again that even just in 2015 we made a profit of 124 million cedis.”

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