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Zera mulls pricing fuel in forex

by Staff reporter
07 Dec 2018 at 06:24hrs | Views
The Zimbabwe Energy Regulatory Authority (Zera) has made submissions to Government to allow some selected service stations countrywide to sell fuel to motorists in foreign currency.

This comes as the country's major fuel companies, say they want Letters of Credit (LCs) being allocated by the central bank for fuel payments to cover legacy debts owed to several fuel traders that bring fuel into the country.

Zera acting CEO Eddington Mazambani said this week that they are piloting a situation where certain service stations and/or pumps sell fuel in foreign currency to motorists with access to hard currency.

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Source - Business Weekly

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