Energy Minister, Boakye Agyarko, has revealed plans by his outfit to install tracking devices on fuel tankers transporting petroleum for export to check smuggling.
He said the installation of the devices is part of measures the government hopes to use to end the illicit trade of petroleum products.
The illicit activities of fuel smugglers are said to be costing the state about GH?850 million annually.
The installation of the tracking devices would enable law enforcement agencies to monitor the export and import of petroleum products, and hence prevent instances where products meant for re-export, which did not have taxes imposed on them were dumped and sold in the country.
The government would also introduce refundable administrative fees on products marked for export to make it uneconomical to discharge them locally and refunds made only upon the submission of evidence of discharge at the appropriate destination, evidence of which must be obtained in collaboration with the destination country’s authorities.
Many Oil Marketing Companies (OMCs) have raised concerns about the adverse impact of fuel smuggling on their businesses.
They want the government to address the situation as a matter of urgency considering the huge sums of revenue that was being lost currently.
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