By DOH JAMES SONKEY
Hydrocarbons Prices Stabilization Fund better known by its French acronym as CSPH has reassured visitors at the just ended 8th edition of SAGO 2019 at the esplanade of the Yaounde Multipurpose Sports Complex that as instructed by the government, all measures have been taken to ensure that petroleum products are regularly supplied to consumers in all parts of the country despite the fire incident that consumed some parts of the National Refining Company, SONARA recently.
The reassurance was given by the Head of the Communication Unit of CSPH, Amïrah Hachankeng
to a delegation of government officials led by the Minister of Communication, Rene Emmanuel Sadi as representative of the Prime Minister at the opening ceremony comprising also of Minister Delegate at the Presidency in charge of Supreme State Audit, Mbah Acha Rose, the Director General of Cameroon Telecommunications, CAMTEL, Judith Yah Sunday etc.
Entertaining increasing crowds of visitors who took turns to tour CSPH’s conspicuous stand at SAGO 2019 on the theme “Public Investment and the development of Cameroon, Hydrocarbons Prices Stabilization Fund, CSPH in line with government policy,” staff of the strategic institution led by the Public Relations Head, Yaya Soulemanou explained government’s endless sacrifices through CSPH to maintain fuel prices at affordable level and to make sure petroleum products are available in all parts of the country at the same prices.
On the presentation done to the PM’s representative and his accompanying delegation, the Communication Officer of CSPH, Amïrah Hachankeng explained to The SUN that “The hydrocarbons Prices Stabilization Fund is proud to accompany the government in its goal of investing in the development of Cameroon. One of the missions of the Hydrocarbons Prices Stabilization Fund is ensuring the regular supply of petroleum products throughout the national territory. As you can see in the banner behind you, CSPH builds pilot stations in rural areas to ensure that all Cameroonians have access to petroleum products. We have also built LPG filling centres in Bertoua and Maroua.”
She further highlighted that “In addition to stabilising the prices of petroleum products CSPH has also invested in the infrastructure of Cameroon such as the improvement of urban roads as seen in Nkol Eton, participating in the construction of the Mokolo and Mfoundi markets and the electrification of the Yaounde-Nsimalen highway.”
Over 100 state corporations and projects exhibited goods and services at the 8th edition of SAGO that took place on the theme “Public Investment, great opportunities and development of Cameroon.”
Historical evolution of CSPH
Created by Decree No. 74/458 of 10 May 1974 and adopted in the wake of the first oil shock, CSPH operated for several years as a “light structure”. Its management bodies were then made of Management Committee enjoying extensive powers for management. It was headed by a Director of price with the role of executing the decisions of the Committee who is supported in its mission by a service: Financial Commission responsible for the management control of the corporation. CSPH was then under the supervision of the Ministry of Commerce.
On 31st December 1980, by order No. 43, MINEP/ SG/ SAC, the corporation is extended with the establishment of the accounting and documentation Bureau. In January 1988, Decree No. 88/150 sets up a Steering Committee. Also, to ensure an effective and efficient management of CSPH, new organs are planned to be set up. A serious reform took place in 1998 with Decree No. 98/165 of 26 August 1998, reorganizing CSPH as a modern and autonomous institution whose operation obeys to public institutions classic rules of management.
Also, a Management Board entrusted with traditional powers and Management headed by a Director General assisted by a Deputy Director General and an external auditor were set up, (the CSPH Director General is now separate from the Director of price).