President Paul Biya yesterday decided to terminate the two years stay of Paul Elung Che at the helm of the Hydrocarbons Prices Stabilization Fund (CSPH).
Going by the presidential decree dated December 11, 2017 and signed by the Head of State, President Paul Biya, Paul Elung Che has seen his positions in government reviewed.
Before the said decree, Paul Elung Che was cumulating two positions in government; Minister Delegate at the Ministry of Finance and General Manager of the Hydrocarbons Prices Stabilization Fund (since 2015).
Even thouh the ENAM graduate remains Minister Delegate at the Ministry of Finance the Presidential move has thereby terminated his stay at the Hydrocarbons Prices Stabilization Fund as General Manager.
Following this, Okie Johnson Ndoh was then appointed as the new General Manager of the Hydrocarbons Prices Stabilization Fund (CSPH) with Véronique Manzoua on her own side, appointed deputy General Manager.
The liberalization of the oil distribution sector which occurred in Cameroon in 1998 pushed the CPSH to supply the whole country with hydrocarbons while insuring the regulation of prices.
According to Business in Cameroon, the company also ensures arbitration, necessary to the smooth competition between economic operators dealing in the sector.