NPA earns applause for implementing measures to sanitise downstream petroleum industry

The National Petroleum Authority (NPA) has been commended for implementing measures to sanitise the downstream petroleum industry through the enforcement of industry regulations to ensure a level playing field for all operators.

Chief Executive Officer of Petrosol Ghana Ltd, Michael Bozumbil, who made the observation, particularly lauded Dr. Mustapha Abdul-Hamid, the Chief Executive of NPA for leading the implementation of “bold steps that have supported the growth of the industry.”

He was speaking in Accra on Friday when he led other management members of the company to pay a courtesy call on the leadership of NPA.

MrBozumbil urged the NPA to continue with the transformative initiative and pledged the support of the leadership of Petrosol.

“This visit is to commend you for the major steps you have taken and the measures you’re leading the NPA to put in place to sanitise the industry,” he added.

He noted that Petrosol places a high priority on regulatory compliance and the payment of taxes and levies to the state.

On regulatory compliance, Mr. Bozumbil indicated that not only does Petrosol comply with NPA’s regulations but had also gone a step further to subject its operations to international audit, leading to the company receiving triple-International Organisation for Standardisation (ISO) certifications for quality, occupational health and safety and environment.

Regarding the payment of tax obligations, he said the company dutifully pays its taxes adding that “the Commissioner-General of the Ghana Revenue Authority recently wrote to Petrosol to congratulate us for our tax compliance.”

On his part, Dr Abdul-Hamid commended Petrosol for being a compliant company and urged them to maintain that record.

He expressed his appreciation for the visit and the show of support for the measures the NPA was putting in place to ensure a level playing field.

He said the Authority would continue to enforce the rules fairly and hoped operators in the industry would comply.

Petrosol is a privately owned Ghanaian oil marketing company operating several fuel stations across the country.


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