Halt and Reverse All Fund Diversions from LPG Fund Immediately- COMAC and CBOD to Gov’t
The Chamber of Oil Marketing Companies (COMAC) and the Chamber of Bulk Oil Distributors (CBOD) have demanded an immediate halt and reversal of funds diversion from the LPG Fund to the Ghana Cylinder Manufacturing Company (GCMC).
In a joint statement, they condemned the action by the government, saying it is a blatant deviation from the fund’s original purpose.
“It constitutes a flagrant breach of statutory mandate, a dangerous sabotage of national energy policy, and an unacceptable betrayal of public trust.”
They recognise that the LPG Fund was established under Legislative Instruments LI 2262 (amended) and LI 2481 on April 1, 2024, to finance the construction and operation of LPG bottling plants nationwide and fund the Cylinder Recirculation Model (CRM) rollout for safe, efficient LPG distribution.
“These purposes are non-negotiable. The fund was never intended as discretionary capital for ad hoc allocations. Redirecting it to GCMC is not administrative flexibility-it is a statutory violation that demolishes the foundation of Ghana’s LPG safety and infrastructure framework.”
They stated that the fund misappropriation will translate into the destruction of private investment, elimination of jobs, sponsor consumer exploitation and lead to investor flight.
“Every diverted cedi erodes competitiveness, freezes critical investment, and transfers wealth from productive enterprise to governmental discretion. Ghanaians’ confidence in state institutions— earned over decades-is being weaponised to justify institutional pilferage.”
They therefore demanded that the government cease all disbursements to GCMC from the LPG Fund immediately, reverse any allocations already made to GCMC and publicly confirm that the LPG Fund will finance only bottling plants, CRM rollout, and unsafe cylinder withdrawal.
They also demanded the implementation of a quarterly public reporting on all fund utilisation, with independent audit verification.
COMAC and CBOD vowed to pursue all legitimate avenues, policy, legal, and public, to defend the LPG Fund’s use.
“We will not permit this fund to become a discretionary slush account. We will not remain passive while statutory protections are shredded. We will not accept anything less than full accountability, decisive leadership, and restoration of fund integrity.”
Story by Hajara Fuseini
Click to read more: https://opemsuo.com/author/hajara-fuseini/
