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Haiti - Economy : The oil sector strongly disagrees with the decision of the BMPAD
21/03/2019 14:39:17

Haiti - Economy : The oil sector strongly disagrees with the decision of the BMPAD
Following the announcement of Fils-Aimé Ignace Saint-Fleur, Director General of the Office of Monetization of Development Assistance Programs (BMPAD), to allow oil companies in Haiti to proceed with fuel purchases while requiring a Stand-by Credit letter for the value equivalent to the request to guarantee payments and minimize potential risks. https://www.haitilibre.com/en/news-27223-haiti-politic-importation-of-fuels-the-state-transfers-its-responsibility-to-the-private-sector.html ; the Association of Petroleum Professionals (APPE) has reacted vigorously and signified its refusal to comply with the unilateral decision of BMPAD in the framework of the liberalization of the import of petroleum products: Diesel, Gazoline and Jet and recalls its claims.

In a letter dated March 19th, signed by Randolph Rameau, President of APPE addressed to Fils-Aimé Ignace Saint-Fleur, the Association notes the desire "to liberalize the import of fuels while maintaining the administration of the prices by the Ministry of Finance"

However, Randolph Rameau categorically refuses "the unilateral decision of BMPAD to require oil companies to open letters of credit for potential suppliers" underlining "This request, which we refuse, is inadmissible in the current state of discussions on the details of the implementation of the liberalization and the amount of the advances to be refunded by the customs to the oil companies [...] Customs now owe more than six billion Gourdes to the companies oil companies who no longer have cash to order the products needed for their operations and to lock in the funds corresponding to the guarantees required to obtain the letters of credit in question, "recalling that the oil companies currently sell fuels to gas stations cheaper than they pay at BMPAD.

TB/ HaitiLibre

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