CALL FOR MEASURES TO STOP INLAND SELLING OF FUEL IN DOLLARS BY SOME OMCs

Oil Marketing Companies Association of Zambia has appealed to government to come up with interventions to stop the inland selling of fuel in dollars by some oil marketing companies.

This follows reports of an emerging trend in the oil industry where OMCs importing fuel have started selling the commodity to other OMCs in dollars at today’s rate.

In an interview with Phoenix News, Association president Kafula Mubanga says the ripple effects of using the dollar in a viable economy like Zambia means that even distributors will start demanding the greenback at the pump.

Dr. Mubanga warns that this will be disastrous especially that the country has insufficient dollar reserves hence the need to have this trend stopped before it trickles down to all economic cycles.