The Chief Executive Officer of the Ghana Chamber of Bulk Oil Distributors Mr. Senyo Hosi says government’s total indebtedness to the BDCs is over $495 million. He made this statement in an interview with Richard Dela Sky on Citi FM’s Point blank on Eye Witness news.
According to him, out of this amount, $140 million has been validated while $40 million is currently being validated.
The remaining will be negotiated with government and validated later. He however stated that both the BDCs and government will have to give up something to help clear the debt.
Mr. Hosi commended the banks for being ‘magnanimous’ throughout the entire process. He expressed his gratitude to the Ghana Association of Bankers for coordinating with the BDCs to help reach a reasonable agreement with the government.