Oil Marketing Companies Association of Zambia (OMCAZ) says waivers that government has given local oil companies have little positive impact on the sector.

Addressing the media in Lusaka, Association President Kafula Mubanga said this is because local oil companies lack financial support from Commercial banks.

Dr. Mubanga stated that the development has advantaged International players at the expense of local ones, because 60 % of the market share is taken by the foreigners who have adequate resources.

“This is a clear indicator of government’s commitment of ensuring that players on the market have a fair market share and one of our very important component as OMCAZ is to ensure that local oil companies are brought to gathered,’’ he Said.

He added that the Association will work with government to ensure that all sector players have a fair share of the market in reaction to governments  commitments of securing 50 percent of the supply on the market is supplied by local companies.

Dr. Mubanga further disclosed that in an effort to ensure the country does not experience any fuel shortages, the Association has secured a source of oil free from influences that inhibit the nation from having stable prices.