Govt To Venture Into Fuel Importation And To Increase Market Share In Fuel Retailing, Says Fuel Is Strategic

Outgoing Permanent Secretary in the Ministry of Energy and Power Development, Partson Mbiriri has said that the government is going to be more involved in the fuel industry because it is a strategic and security commodity which can affect the country. Mbiriri said that the government will establish Genesis Energy to import fuel in bulk. Speaking to the Sunday Mail, Mbiriri said,

Basically, Genesis is intended, once fully established, to focus on bulk importation of fuel… 100 percent of our fuel is currently being imported by private players. Most of that being international companies. It exposes us as a country to lots of insecurity and we certainly cannot just sit back on account of the fact that we have liberalised the sector.

…We should equally have some significant market share in retailing. Remember, fuel is not just a strategic commodity, it is a security commodity and its availability can have a telling effect on the well-being of the country and for that reason, it is important that we participate in the sector as the public sector…Going forward, Genesis is envisaged as an important player to that end.

More: Sunday Mail