By Shongedzai Mugwagwa
...resolves to issue letters of credit to local oil companies
Cabinet has assured the country that fuel availability and supply will improve during and after festive season, the Harare Post can report.
Addressing the media during the 45th Post Cabinet brief at the Munhumutapa offices, the Minister of Energy and Power Development, Advocate Fortune Chasi, said that Cabinet resolved that Indigenous oil companies be issued with Letters of Credit to enable them to complement Government in satisfying the market.
“Indigenous oil companies will be issued with letters of credit to enable them to complement Government in satisfying the market,” reads the statement.
This decision was reached in response to fuel queues that have emerged in most towns as consumers worry over availability of the commodity over the festive season as demand usually surges during this period.
The country is currently experiencing fuel shortages, with fuel dealers citing the scarcity of foreign currency as the major cause of the crisis.
The Minister assures the nation that necessary steps are currently being taken to ensure that fuel supply is normalised.
