News / National
Fuel shortages irk motorists
06 Oct 2018 at 20:48hrs | Views
Motorists have bemoaned fuel shortages which have resulted in long queues at service stations with revelations by the Reserve Bank of Zimbabwe that the situation will normalise with effect from today following the release of foreign currency to purchase the commodity.
After the emergence of long queues at most service stations motorists are calling on regulatory authorities to provide them with answers as to what is happening about the fuel situation in the country.
A survey today showed that long queues have become the order of the day as motorists grapple with shortages of fuel.
"We don't what the cause is but we appeal to the relevant authorities to address the issue. We are stuck now and we don't know what to do anymore," said some of the motorists who were standing in long queues in search for fuel.
The RBZ, however, said it has availed foreign currency to solve the problem with effect from today.
In a statement to ZBC News, RBZ governor Dr John Mangudya said the review of tax payments by Treasury coupled with immediate release of foreign currency by the central bank will normalise fuel supply with effect from today.
The governor said the long queues were a result of the financial burden of the two percent tax on all payments including foreign currency, adding its removal means that fuel companies can now process payments for the commodity.
Meanwhile, Energy and Power Development Minister Dr Joram Gumbo noted that adequate foreign currency is critical in ensuring that fuel supply is enough to sustain the requirements of the economy.
"As long as the forex is there we do not have a problem but if it is not there then hey there is a big problem for the nation," he said.
According to the monetary policy statement Zimbabwe's fuel imports gobble at least $80 million on a monthly basis due to the rising demand for the commodity.
After the emergence of long queues at most service stations motorists are calling on regulatory authorities to provide them with answers as to what is happening about the fuel situation in the country.
A survey today showed that long queues have become the order of the day as motorists grapple with shortages of fuel.
"We don't what the cause is but we appeal to the relevant authorities to address the issue. We are stuck now and we don't know what to do anymore," said some of the motorists who were standing in long queues in search for fuel.
The RBZ, however, said it has availed foreign currency to solve the problem with effect from today.
In a statement to ZBC News, RBZ governor Dr John Mangudya said the review of tax payments by Treasury coupled with immediate release of foreign currency by the central bank will normalise fuel supply with effect from today.
The governor said the long queues were a result of the financial burden of the two percent tax on all payments including foreign currency, adding its removal means that fuel companies can now process payments for the commodity.
Meanwhile, Energy and Power Development Minister Dr Joram Gumbo noted that adequate foreign currency is critical in ensuring that fuel supply is enough to sustain the requirements of the economy.
"As long as the forex is there we do not have a problem but if it is not there then hey there is a big problem for the nation," he said.
According to the monetary policy statement Zimbabwe's fuel imports gobble at least $80 million on a monthly basis due to the rising demand for the commodity.
Source - zbc
