September 23, 2008
BOC FREEZES UNIOIL'S P2.3B DIESEL SHIPMENT
September 23, 2008
BOC FREEZES UNIOIL'S P2.3B DIESEL SHIPMENT
One of the country's leading independent oil players yesterday expressed surprise over the decision of the Bureau of Customs (BOC) putting on hold the release of its oil shipments at a local port in Bataan saying they were not even informed by the government agency of its decision to suspend its import accreditation.
Unioil Petroleum Philippines Incorporated (UPPI) General Manager Chito Medina-Cue Jr. said that the BOC is holding the release of the fuel imports despite the payment of taxes and documents having been issued by the Bureau of Internal Revenue (BIR).
"Although all taxes for these products have been fully paid as early as August 22, 2008 and an ATRIG has already been issued by the BIR, the BOC through the Office of the Commissioner is refusing to allow us to withdraw the said products. We have sent several requests to the BOC for the release of the products but so far, we have not yet received any formal response of denial or approval of our request," Medina-Cue Jr. said.
"Apparently, the BOC is withholding the approval of our request for the release because Unioil's Import Accreditation from the CAS Division was suspended. With the suspension, Unioil is therefore unable to file its import entries and thereby prevented from releasing the products. What seems to be unjust at this point is that Unioil has not been formally informed, as of this writing of the BOC's decision to suspend its import accreditation and at the same time its reasons for doing so," Medina-Cue added.
In addition, Medina-Cue said the BOC allegedly withheld the release of the products pending verification of the link between Oilink International Corporation and Unioil but he said that the government agency has already recognized an agreement between the two companies.
"In prior transactions, the BOC has recognized the existence of the Terminalling Agreement between Oilink and Unioil on account of the fact that these are two entirely distinct and separate entities under the law and per records of the Securities and Exchange Commission” Medina-Cue reiterated.
Earlier, it was reported that BOC Commissioner Napoleon Morales has ordered the holding of the oil shipment allegedly until his office is able to establish the firm's relationship with Oilink.
"We are appealing to the BOC for the speedy release and verification of the said shipment since taxes have been fully paid and all the necessary documents were already provided". Medina-Cue explained.
Unioil has more than 40 retail outlets and stations operating in Luzon and the National Capital Region and is in the middle of a P90 expansion plan that would see the construction of an additional six retail stations in Metro Manila alone.
by Leah Flor