Fuel Import Bill Falls From $125 to $80 Million A Month – RBZ Governor

The Reserve Bank of Zimbabwe governor John Mangudya has revealed that a sustainable foreign currency facility has been put in place to ensure that petrol and diesel will be readily available at all service stations.

A ZBC News survey revealed that the winding fuel queues at most service stations across the country have now disappeared as the precious liquid has become readily available.

This has been attributed to the austerity measure implemented by the Minister of Finance Mthuli Ncube.

The Governor said that the fuel import bill which had ballooned to about US$125 million within a short space of time has finally normalised to US$80 million per month.

In an interview with ZBC News, Mangudya said that the decision by the government to increase fuel prices is bearing fruit as the demand for fuel is now for productive purposes rather than panic or hoarding tendencies.

A forex facility is said to have been put in place, that will secure 1.2 billion litres of fuel for the whole year has now been ring-fenced. This is expected to stabilise fuel supply for the foreseeable future.

More: ZBC News

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