Government Assures Availability of Fuel During Easter And Independence Holidays

The Permanent Secretary in the Ministry of Energy and Power Development, Dr. Gloria Magombo, has announced that the government is implementing measures meant to ensure fuel availability during Easter and Independence holidays.

Magombo was responding to concerns raised by the Hospitality Association of Zimbabwe (Haz) on the scarcity of fuel nationwide. She said:

Government, working with the Reserve Bank of Zimbabwe, has already put in place measures to ensure adequate fuel supplies so as not to dampen the spirit of the holidays.

Government has put in place foreign currency structures, mainly in the form of Letters of Credit for oil companies to procure fuel. For some oil companies, such structures are already running, while for the rest of the companies the structures will kick-start before the holidays set in.

The good thing is that adequate fuel is already in the country, held in bond, (and) just waiting for payment in foreign currency to be made before it is released onto the market.

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More: The Chronicle

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