The Board and Management of the Bulk Oil Storage and Transportation Company Limited (BOST) has reinstated Mr Albert Mantey, Chairman of the Professional and Managerial Staff Union (PMSU).
Mr Kingsley Kwame Awuah Darko, the Managing Director (MD) of BOST, announced the reinstatement at a news conference on Thursday.
Mr Mantey was dismissed by the MD, who accused him of breaching the company?s Conditions of Service by speaking to the media without approval from management on the company?s ongoing restructuring exercise and staffing policy.
The news conference was also held to throw more light on how management was handling the Ernst and Young (E&Y) audit report that unearthed corrupt practices at the company, leading to massive financial loss to the state.
Mr Awuah-Darko pointed out that although he received a letter from the Ghana Trades Union Congress demanding the reinstatement of Mr Mantey, it was done at the instance of the Board and Management.
Mr Awuah Darko said any staff found to be culpable in the audit report would be made to answer.
He said after receiving the E&Y report, he wrote to all departments and the bulk oil distribution companies (BDCs) mentioned in it for them to provide their response.
He gave an overview of the series of activities undertaken at the company?s depots; such as deposition to withdrawal of fuels.
He indicated that from 2010 to 2013 BOST recorded losses of GH? 3,869,086; GH? 14,295,548; GH? 10,853,524; and GH? 45,586,432 respectively.
Mr Awuah Darko said following his assumption of office in 2013, he put in place stringent measures in 2014, which led to the companymaking profit of GH? 8, 148, 637.
The MD observed that the company currently had six weeks storage reserve and suppliers? credit of over $280 million.
He explained that the suppliers? credit was usually released to the market whenever there were shortages, which had given credibility to BOST.
The MD said there was a good working relationship between BOST and the BDCs.