Fuel Companies Want Govt To Supply Them With 2 Weeks Worth Of Foreign Currency

Appearing before the Parliamentary Portfolio Committee on Mines and Energy, Major Oil Companies Industry Forum representative and acting CEO for Petrotrade Godfrey Ncube appealed to Government to supply them with two-week worth of foreign currency cover to ensure there are no gaps that worsen fuel shortages.

Ncube said it is difficult to eradicate the long queues because of the gaps in supply. The Major Oil Companies Industry Forum is constituted by companies including Total Zimbabwe, Engen, Petrotrade, Zuva Petroleum and Puma. Said Ncube:

As oil companies, we have a distribution structure designed to top up stocks in the service stations on our commercial customers. Sometimes when the service stations run dry, it takes longer to completely eradicate the queues because each drop is wiped out within a few minutes. We then would require a bit of time. Each one of us currently gets fuel at different times and we try and fill the gap. We suggest the Government to try and just have a two-week period to allocate most of the foreign currency to the fuel companies so that we make all service stations wet and then work on top-up basis.

More: Herald