Government And Oil Marketing Companies Differ Over Hike Of Fuel Prices

By Michael Kaluba

 

A tag of war has ensued between government and oil marketing companies over hiking of fuel prices resulting in over 3 weeks shortage of petrol on the market.

Energy Minister Mathew Nkhuwa has disclosed that oil marketing companies recently stopped ordering stock and withheld the already stored fuel after government rejected their demand for an upward adjustment on the pump prices of the commodity.

Mr. Nkhuwa further disclosed that government instead opened to remove VAT refunds which oil companies said was not enough prompting the state to remove excise duty on imported petroleum products.

He says this was aimed at ensuring the effects of the depreciated kwacha factors do not result in a price hikes.

The Energy Minister However says his ministry is engaging the oil marketing companies to resolve the situation and has assured the general public that fuel should be available in abundance within a few days.

Zambia has seen a sustained fuel shortage in most parts of the country with sporadic availability of the commodity.

 

PHOENIX FM NEWS

The post Government And Oil Marketing Companies Differ Over Hike Of Fuel Prices appeared first on Phoenix FM.

News Source: Phoenix FM

WP2Social Auto Publish Powered By : XYZScripts.com