Minister for Energy, Dr Matthew Opoku Prempeh, has called on the heads of State-owned Enterprises (SoEs) to emulate the work of the administration of the Bulk Oil Storage and Transportation (BOST) which has turned its fortunes around.

In 2021, BOST made a profit of GHS161 million. A year later, the company has increased its profit to GHS342 million, representing a growth of 112%.

This information was revealed by Board Chair of BOST, Ekow Hackman, during the company's 2nd Annual General Meeting (AGM) on Thursday, August 17, 2023.

In response, Dr Matthew Opoku Prempeh noted that he is impressed by the company's progress. According to him, this is the path SoEs must take in order to ensure the government moves from the era of huge debts.

"On behalf of the government and the people of Ghana I would like to express my sincere appreciation to the Board of Directors, Management and staff of BOST.

The progress made by BOST exemplifies the path we should continue to follow. It is my expectation that other State-Owned Enterprises (SOES) will learn from the BOST story and replicate this performance," he said.

According to the Energy Minister, this would enable that government to effectively execute itsflagship programs using revenues generated by its SOES.

"The remarkable performance of BOST reinforces my firm belief that State-Owned Enterprises cangenerate profits, pay dividends and make significant contributions to the government's fiscal policies with the right leadership, attitude and balance.

The BOST model should serve as an exemplary example for all SOES. I have full confidence that the Public Enterprises Ministry and SIGA will spare no effort in encouraging and leading other SOEs to fulfil their mandates and visions," he added.

Meanwhile, Dr Matthew Opoku Prempeh has entreated the management of BOST to continue its good work to sustain the growth of the company.

"We encourage you to increase the momentum to sustain this performance and strive for even greater heights. BOST's success contributes to the fiscal policies of the government and supports our national growth and development agenda," he said.