Amid an unending fuel crisis facing the country since last year, government has relaxed the importation of fuel by private companies in a move aimed at doing away with the precious oil queues characterizing the streets.
President Emmerson Mnangagwa made the announcement in his State of the Nation Address (SONA) and opening of the Second Session of Ninth Parliament in the capital today.
“The country has seen some stability in the fuel sector on the back of the introduction of cost-reflective pricing adjustments, coupled with the fuel procurement financing facilities structured by Government.
“Companies with foreign currency are now permitted to procure their own fuel through registered oil companies. To curb malpractices in the fuel industry, Government will soon roll out an electronic National Fuel Monitoring System. For the long term, a comprehensive National Integrated Energy Resource Plan is being developed,” he said.
In line with what Mnangagwa said is a cost reflective pricing, the Zimbabwe Energy Regulatory Authority (ZERA) has adopted a weekly price review of fuel prices to catch up with the prevailing foreign currency exchange rate.
