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Zambia suspends importation licenses for oil companies

Xinhua, January 20, 2017 Adjust font size:

Zambia's energy regulator has suspended fuel importation licenses for Oil Marketing Companies (OMCs), a senior official said Friday.

The suspension came after the announcement of the Zambian government plan to disengage from the procurement of oil, which will be taken up by the private sector.

Energy Regulation Board (ERB) consumer and public affairs director Agness Phiri however said the suspension was an interim measure, rather than a revocation.

"The suspensions are also meant to curtail misconduct in the sector which had resulted in some unlicensed entities engaging in fuel importation, contrary to the Energy Regulation Act," she said in a statement.

It was also aimed at dealing with OMCs that have been evading tax, a move that has caused losses in the government. Endit