The General Transport, Petroleum and Chemical Workers Union of the Trades Union Congress (GTPCWU) has kicked against the sale of Ghana Oil Company LTD and Tema Oil Refinery.

It has however given its backing to the divesting of City Express Service (CES), Ghana National Petroleum Corporation (GNPC) and State Transport Company Ltd (STC).

The Union's view contained in a resolution adopted by its National Executive Council (NEC) and signed jointly by the National Chairman, Mr. Roland W. Mosore and the General-Secretary, Mr. J. N. Y. Atopley, said the sale of TOR (Tema Oil Refinery), a "National asset to a strategic investor for a pittance is not in the interest of the nation".

" The Government should read between the subtle attempts being made by the World Bank and the IMF to perpetually re-colonise our dear country".

The resolution said it is ridiculous to make the sale of TOR a conditionality for an IMF loan, only two years after the World Bank had given the company a credit facility, which has enabled the Management to turn it around.

"In their wisdom to keep the Refinery, a national asset the founders of the nation entered into an agreement with the Italian Government to return the Refinery to the Government and the people of Ghana after running it for an agreed number of years.

"This is how the Refinery became a national asset and must remain as such", the resolution said. On GOIL (Ghana Oil Company Limited), the Union said apart from the loss of jobs to some employees, its sale will be suicidal for the government itself and will be at variance with the interest of the rural population in particular.

"Government itself must analyse the services that GOIL renders to it and refrain from selling this asset to an investor, either foreign or indigenous.

"Our information that government intends divesting 60 per cent of its shares to a strategic investor is politically dangerous and a way of government playing itself unconsciously into the waiting hands of the multi-national oil companies", adding, "GOIL should continue to remain a national asset".

On the divestiture of STC, the resolution said the government should be seen to be encouraging the "Management Worker Buy Out concept", because the workers have demonstrated since 1996 that they are capable of turning the company around.

The resolution urged the government and the Divestiture Implementation Committee (DIC) to be fair and transparent with the divestiture of the company.

It appealed to the authorities to expedite action on its divestiture of CES to alleviate the sufferings of the employees, who it said, " have remained unpaid for between nine and 13 months". The resolution "noted with mixed feelings, the divestiture of the Ghana National Petroleum Corporation (GNPC) '' and urged " the Management of the GNPC and the DIC, to involve the Divisional Union Executives in the divestiture process for purposes of transparency".

Parliament by a vote of 113 to 50 on December 15 approved an 18 million-dollar loan from the African Development Bank for Economic Recovery Support Operation (ERSO).

The conditions for the disbursement of the second tranch of four million dollars of the loan, was that the government should divest the Produce Buying Company (PBC), Ghana Oil Company (GOIL) and Tema Oil Refinery (TOR).