On Wednesday, Energy Minister Samuel Undenge announced that Zimbabwe will be phasing out D500 (normal diesel) effective 1 November, 2017 and migrating to Diesel 50.
Dealers have been given 4 months to sale all D500 stocks. Speaking on the fuel shortages, Undenge said the situation is returning to normal as forex allocation for purchase has been increased to $10 million per week and said that there is no need to panic.
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He also claimed that Zimbabwe has two months worth of diesel and one month worth of petrol stocks in bond. Undenge said panic buying and hoarding had worsened the fuel situation but “there is no need to panic.”
Samuel Undenge is a Zimbabwean politician and a former member of the- Zanu- PF. He is the former Minister of Energy and Power Development.He is a Member of Parliament for Chimanimani East constituency in Manicaland province.In January of 2018 Undenge was arrested by the Zimbabwe... Read More About Samuel Undenge
The Ministry of Finance and Economic Development is a government organ which administers the country's fiscal and financial aspects through its respective departments. It has various organs administered by different personnel and these include among other the Reserve Bank of Zimbabwe and the Zimbabwe National... Read More About Ministry of Finance