Govt To Issue Letters Of Credit To Fuel Dealers To Improve Fuel Supply Situation

Cabinet has said that it intends to see the fuel supply situation in the country improved during and beyond the festive season.

Following an update on the fuel supply situation in the country by the Minister of Energy and Power Development, Advocate Fortune Chasi, Cabinet resolved that Indigenous oil companies have to be issued with Letters of Credit to enable them to complement Government in satisfying the market.

The decision is made when consumers are worried that the scarce commodity can be more scarce during the festive season.

The country has had fuel shortages for a long time now with fuel dealers citing the scarcity of foreign currency as one of the major causes to the crisis.

The Zimbabwe Energy Regulatory Authority has in the recent past been reviewing fuel prices weekly, a development that also resulted in the prices of other commodities going up.

More: The Herald


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