Off the wire
Urgent: Gold rallies strongly as Fed statement weighs on dollar  • BiH entity leader expects more Chinese investment  • Spanish treasury places 2.858 bln euros on market  • Council of Europe welcomes European Commission's clarifications on migrant crisis  • Zambia soccer chief confident of retaining seat  • Ghanaian minister urges ICC to drop bias against African leaders  • Spanish stock market rises 0.18 pct  • Zimbabweans rate WhatsApp most popular app: report  • Investors scramble for Safaricom shares ahead of profit announcement  • Putin promises further support for Syrian government  
You are here:   Home

Zambia allows oil marketing firms to import fuel

Xinhua, March 18, 2016 Adjust font size:

Authorities in Zambia have allowed Oil Marketing Companies (OMCs) to import fuel in order to avert a fuel crisis, a senior government official said on Thursday.

Some parts of Zambia are currently experiencing a fuel shortage, with Lusaka, the country's capital, being the hardest hit.

Local media have reported that the shortage is due to government's failure to secure a letter of credit for crude oil importation after the signing of a new supply contract with Independent Petroleum Group of Kuwait, following the termination of an earlier contract with Gunvor of Switzerland.

Ministry of Energy and Water Development Permanent Secretary Emeldah Shonga said a short-term statutory instrument has been signed to allow OMCs to import finished petroleum products in the country as one of the measures to avert a fuel crisis.

"The OMCs have been requested to import according to their market share until August 31, 2016," she said in a statement.

The government, she said, has also engaged three extra fuel suppliers to supply a total of 300 million liters of diesel and 180 million liters of petrol.

She assured the public not to panic as measures have been put in place to stabilize the supply of fuel in the country. Endit