Zim Has Enough Fuel Stocks- Gumbo

Speaking to The Chronicle on the sidelines of the Mining, Engineering and Transport Expo (Mine Entra) at the Zimbabwe International Exhibition Centre in Bulawayo, energy Minister Joram Gumbo said Zimbabwe has enough fuel stocks to last months.

He said the shortages that are being experienced are being caused by companies who are holding onto the fuel for speculative purposes in the hope that prices go up and they sell and make a profit. Said Gumbo:

We have enough fuel stocks at Msasa and Mabvuku in Harare. The RBZ are doing their best to release forex to oil companies for them to access that fuel. The fuel that I’m saying is at Msasa is enough for the country but it is bonded. It’s brought in by international companies into the country so that our own companies and those that trade within Zimbabwe can access it after paying for it using foreign currency. That is where the snag is.

More: Chronicle