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Fuel shortage hits Ghana’s capital city

Posted on Friday, 27 June 2014 18:46

The shortage comes days after Bulk Oil Distribution Companies (BDCs) warned of severe shortages in the country unless the government settled its debts.

here is stock available on the market, on the shores of Ghana, but it is just that it is on a financial hold

The government owes BDCs about GHC1.8 billion, making it unattractive for international suppliers of petroleum products to release a week’s supply of petrol and diesel until the BDCs honour their debt obligations.

Reports indicate that local banks have declined to issue letters of credit to the BDCs to pay off their debts to international suppliers, as the current debt is “threatening the survival of the banks”.

“There is stock available on the market, on the shores of Ghana, but it is just that it is on a financial hold,” a top official of the distribution companies, Senyo Hosi, told a local radio station, adding, “You pay you get financial access to it from the international suppliers.”

He said the BDCs could not buy because “the banks are not ready to make credit available to us because we are heavily indebted to them”.

To ease the shortages, Ghanaian President John Mahama on Friday directed the Finance ministry to release $60 million to the BDCs to supply “enough fuel” to the system, but the BDCs say it was not enough to guarantee more supplies. There is great variety of games in Friv platform. Everything what you can imagine probably. So if you like sport games or shooting games, animal games or racing games, on website with friv games you can find all of them.

A visit by The Africa Report to fuel stations in various districts in the capital – Adabraka, Osu, Labadi, the 37 Military Hospital, the Kotoka International Airport area, Adabraka, Ridge, Osu and Kokomlemle – saw attendants waving signs indicating “No fuel”.

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