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De-regulation necessary for sector driven competition – NPA

Ghana GasThe National Petroleum Authority (NPA) wants government to de-regulate the petroleum sector to ensure full cost recovery.

The NPA is being supported in its call by the Bulk Oil distribution companies (BDCs) as well as the Oil Marketing Companies (OMCs).

Processes leading to a deregulated petroleum sector in Ghana begun 17 years ago however, no government within that period has succeeded in fully implement it.

This had led to the dominance of Tema Oil Refinery (TOR), Ghana National Petroleum Corporation (GNPC), and the National Petroleum Authority (NPA) in the importation and retail price setting.

Head of Public Affairs at the National Petroleum Authority (NPA), Yaro Kasambata told Citi Business News, the petroleum sector will experience higher standards driven by competition when government limits its control on the sector.

“Now you can have countless number of oil marketing companies and that is a positive sign because deregulation is saying that if you limit the control, competition will drive the service into high standards; the consumer will get a competitive price and service.”

With the setting up of the NPA to be an independent regulator to oversee the work of the industry, control has not been entirely eliminated. This is because government still has a fair amount of control in determining what the consumer pays for.

Speaking further on the issue, Mr. Kasambata noted that “what they are calling for is a certain amount of independence, from the authorities, the free hand to ensure what needs to be enforced.”

Source: Citifmonline

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