The Board Chairman of the Chamber of Oil Marketing Companies (COMAC) has called for a total withdrawal of the Cylinder Recirculation Model (CRM) by the National Petroleum Authority.
According to him, the CRM in its current state is not favorable to businesses and will thus collapse most indigenous firms in the Liquified Petroleum Gas (LPG) industry if allowed to stay.
Speaking at the just-ended maiden Downstream Petroleum Dialogue, Kumi said the policy has failed and therefore must be abolished.
It’s obvious that the old approach has not worked and it’s not going to work. We have always said that we cannot stop the government from implementing its policies but your policy must not come to destroy the investment of Indigenous Ghanaians”.
Kumi had earlier told Joy Business that his outfit which is a key stakeholder in the industry was not adequately engaged before the CRM was introduced.
We haven’t really seen the practical implementation of the policy on the grounds. The programme has failed”.
He pointed out that members of the petroleum downstream sector will oppose any policy detrimental to the growth of the industry.
“Any attempt to push Indigenous Ghanaians who have built the industry for over 30 years aside in the name of introducing a policy will be fiercely and fearlessly resisted. That one I must assure you
We are ready to cooperate, we are ready to engage so at the end of the day if we are called for any engagement on CRM we’ll be ready to go”, he added.
The dialogue was under the theme “Ghana’s Downstream Oil and Gas Sector, Challenges and Opportunities”. It aims to address some challenges facing the downstream petroleum industry.
