SENIOR STAFF WRITER
GOVERNMENT-OWNED fuel retailer Petrotrade has called on authorities to liberalise the country’s fuel industry to allow players to procure and sell fuel in foreign currency, the Daily News reports.
“There will be an audit, with the help of the Reserve Bank of Zimbabwe because we expect those companies selling fuel in foreign currency to then use their proceeds to procure more fuel using whatever they realise from their sales rather than come back to the government to come in and provide them with foreign currency.“We are also looking at capacitating the Zimbabwe Energy Regulatory Authority (Zera) legally so that unscrupulous companies that export the same fuel they get are properly punished,” Magombo said.
“I think the nexus between the availability of foreign currency and the availability of fuel in the country is known to all of us. It is also common cause I think that over the number of months preceding since the commencement of this pandemic, our capacity to generate foreign currency for our own purposes as a country was very much heavily affected.“All that being said, the government is working day in, day out to ensure that we put facilities in place for the importation of fuel and with the recently introduced foreign currency auction system we think that there will be greater capacity also to acquire foreign currency for purposes of fuel,” Chasi said.