Fuel Situation To Normalise In The Next Few Days: Mthuli Ncube

The Minister of Finance and Economic Development Mthuli Ncube said that the fuel situation will normalise in the next few days. Speaking to the press after a Cabinet meeting, Ncube said the fuel shortages are being caused by delays in the making of payments and transport logistics. He has however assured the public that the government is on top of the situation. Ncube had this to say

We are aware of the hitches in the fuel supply on the market and this has to do with timing in terms of payments and supply of the commodity… I am happy to say that enough letters of credit and other payment forms have been arranged for the supply of fuel, but you get one or two types of delays logistically in terms of the delivery of the fuel. The issue should resolve in the next few days. We just hope we can be patient.

Also, recall this last quarter of the year every year is the time for forex shortage in the normal cycle of foreign currency earnings for the country. We always have a bigger demand compared to supply in terms of forex demand, but we are glad to say we are on top of it and we will arrange enough financing for the fuel.

More: Herald