The National Petroleum Authority (NPA) says it will deploy an Automatic Tank Gauging and Stock Management and Monitoring Systems at all petroleum retail outlets across the country, this year.
The system will give the NPA and the Ghana Revenue Authority (GRA) a real-time view of petroleum products at all retail outlets and ascertain the stock level on daily basis for easy calculation of the revenue accrued for taxation.
Mr Alhassan Tampuli, the Chief Executive Officer (CEO) of NPA, announced this at the launch of the Electronic Cargo Tracking System (ECTS) and Command Centre for Bulk Road Vehicles (BRV) in Accra, to curb smuggling of petroleum products in the petroleum downstream sector.
The electronic tracking system, an initiative of the NPA, is a monitoring system aimed at enhancing efficiency in the petroleum value chain, disrupt corruption and maximise tax revenues for the state.
The NPA was established by an Act of Parliament, National Petroleum Authority Act, 2005, (Act 691) to regulate the petroleum downstream industry in Ghana and ensure the industry remained efficient, profitable and fair, with consumers receiving value for money.
"The NPA is determined to curb illicit activities in the petroleum downstream industry and we have been doing this in collaboration with the National Security Council in the fight against illicit activities in the industry," Mr Tampuli said.
The introduction of the tracking system, Mr Tampuli said showed the Authority's commitment to improving standards and control of the distribution of petroleum products in the country, which would benefit the various sectors of the economy by making sure that petroleum consumers receive petroleum products in the right quantity and quality at an affordable cost.
He noted that adequate control rules and reliable distribution service for the petroleum downstream sector was very essential for economic development, which is in tandem with the Authority's vision of being "a catalyst for economic transformation and growth".
The Authority since its establishment in 2005 has supervised the acceleration of the petroleum downstream deregulation process by facilitating the removal of restrictions on the establishment and operations of petroleum facilities, importation of crude oil and petroleum products in Ghana.
In 2015, NPA facilitated the final phase of the petroleum deregulation process (price liberalisation) where prices of petroleum products were taken from governmental control with private importers, distributors and retailers empowered to sell ex-refinery and ex-pump prices with no government intervention.
About 98 per cent of the volumes of petroleum products in Ghana are transported through the Bulk Road Vehicles (BRVs) and often associated with challenges including transit product shortages and false haulage bill claims.