News / National
Zim fuel prices go up
01 Jan 2014 at 10:29hrs | Views
THE price of fuel could marginally rise today by one and two cents per litre for diesel and petrol respectively as the government introduces a levy to raise funds to finance the 820km Plumtree-Mutare Highway loan.
The government took a multimillion dollar loan to fund the rehabilitation of the highway.
South African company Group Five is undertaking the project. Part of the road is now complete.
Announcing the 2014 national budget, Finance minister Patrick Chinamasa proposed the levy indicating that it would come in to effect from today.
However, motorists could get a reprieve as Parliament is yet to pass the budget.
"The government entered into a loan agreement with the Development Bank of South Africa with a view to finance the Plumtree- Mutare Road.
"In order to raise funds to service the above loan, I propose an additional road levy of 2c/litre and 1c/ litre for petrol and diesel respectively with effect from 1 January 2014," Chinamasa said.
The government took a multimillion dollar loan to fund the rehabilitation of the highway.
South African company Group Five is undertaking the project. Part of the road is now complete.
Announcing the 2014 national budget, Finance minister Patrick Chinamasa proposed the levy indicating that it would come in to effect from today.
However, motorists could get a reprieve as Parliament is yet to pass the budget.
"The government entered into a loan agreement with the Development Bank of South Africa with a view to finance the Plumtree- Mutare Road.
"In order to raise funds to service the above loan, I propose an additional road levy of 2c/litre and 1c/ litre for petrol and diesel respectively with effect from 1 January 2014," Chinamasa said.
Source - zimbabwefocus.com
