• In a short space of time, the national fuel stock level has significantly improved.
• Leading Oil Marketing Companies have demonstrated industry statesmanship.
• ERB should remain resolute and continue to protect the integrity of the supply chain.
An Energy Expert says Oil Marketing Companies (OMCs) have demonstrated industry statesmanship by ensuring that the fuel situation in the country is back to normal.
Johnstone Chikwanda said according to information obtained on the ground, national fuel stock level has significantly improved in a short space of time, and continues to increase, thereby growing the country’s energy security.
Engineer Chikwanda noted that with a combined hefty removal of taxes of more than 41% in total, fuel in Zambia has become cheaper than in some neighboring countries; a situation he says could lead to smuggling of the commodity out of the country to other destinations in order to cash in.
“I wish to commend the leading Oil Marketing Companies (OMCs) for demonstrating industry statesmanship by ensuring that the fuel situation in the country is back to normal.”
“This follows a series of Government’s intervention involving the removal of Customs Duty at 25%, Value Added Tax (VAT) at 16% and Excise Duty on Diesel while on Petrol, the Excise duty has been reduced. This demonstrates the extent to which Government has gone to cushion the general public against possible fuel prices increases while protecting security of supply,” Mr. Chikwanda said.
Engineer Chikwanda advised the Energy Regulation Board (ERB) to remain resolute and continue protecting the integrity of the supply chain, by ensuring that no illegal fuel exports take place out of the country to neighboring nations.