As part of efforts aimed at eliminating illicit activities associated with the transportation and effective distribution of petroleum products across the country, government has introduced the National Retail Outlet Fuel Monitoring System.
The system will also help reduce revenue losses within the petroleum downstream sector.
Already, data from the National Petroleum Authority, NPA, show that between 2015 and 2019, government lost over four billion Ghana Cedis in tax revenue as a result of illegal activities in the petroleum downstream sector.
Speaking at the launch of the National Retail Outlet Fuel Monitoring System by the National Petroleum Authority, Vice President, Dr. Mahamudu Bawumia hinted that the move is an effective distribution system essential to the economic growth of the country.
“This innovation by the NPA will not just improve the petroleum product distribution system but will also go a long way towards the Ghana beyond aid agenda. It certainly would help the government in its effort to maximize revenue mobilisation from petroleum products. Taxes and levies on petroleum products are major sources of revenue for the government in pursuing its developmental agenda. Actions, decisions and policies of individuals and corporate bodies which results in petroleum product distribution leakages with consequential revenue losses to the State inhibit economic development and therefore have serious negative consequences on the developmental agenda of the government,” he said.
Chief Director of Safety, Esther Anku, stated that the retail outlet monitoring system is aimed at complementing measures already taken in the fight against illicit activities and it is expected to monitor the receipt into the retail outlets of smuggled products, products meant for export and diverted subsidized products such as Premix and MGO local deployed to control illicit activities in the petroleum downstream industry in the country.
The implementation of the National Fuel Monitoring System, comprising the installation of Automatic Tank Gauges (ATG) and Forecourt/Dispenser Transaction Control System at the retail outlets, will provide data on sales and in-tank volumes that enables remote monitoring, and will therefore be an effective tool to combat unauthorized Third Party Deliveries.
The deployment of the system includes the calibration of all underground storage tanks using the world’s most advanced calibration technology, the Calibex 3D laser calibration technique that delivers high accuracy calibration within thirty (30) minutes.
Source: citibusinessnews.com
