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Gold for oil: Bleeding is allowed


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Vice President Dr Mahamudu Bawumia has thrown shades at political opponents who were sceptical about the success of the gold-for-oil policy.

The Vice President said persons who cast doubts about the policy are now bleeding because the policy is working.

“There are people who are very disappointed that it is working, but bleeding is allowed. They have an impossibility mindset, and they can keep to it. For us all, things are possible by the grace of God,” Dr Bawumia said.

Dr Bawumia said this at the commissioning of the new head office of the Bulk Oil Storage and Transportation Company Limited (BOST) in Accra on Wednesday.

The Vice President, who is optimistic that the Gold-for-oil policy will work, assured that the country will be receiving more fuel under the deal.

“There is more to come, this is the third month of operation of the policy. Some people said it will not work, and Ghana doesn’t have enough gold. How can you say that? We have been mining this gold for 200 years, and they keep taking it out, and it cannot work for us? It doesn’t make sense,” Dr Bawumia noted.

He assured that the government will deliver on its mandate of ensuring that the pressure on the cedi is reduced.

“With dedication and the right focus, we will deliver the mandate Ghanaians have entrusted in our care,” the Vice President promised.

The national average price for petrol and diesel currently stands at GH¢13.53 and GH¢13.69 respectively.

The Gold for oil policy which was announced by the government to help reduce the pressure on the cedi and bring in cheaper fuel has so far seen about 100,000 metric tons of fuel being brought into the country under the policy.

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