Andrew
Online Reporters
Government is set to roll out a programme that will supply local currency fuel into the market.
Currently, most fuel stations are selling in United States (US) dollars.
In a statement on Friday, the Zimbabwe Energy Regulatory Authority (ZERA) said the local currency fuel will be distributed through the National Oil Infrastructure Company (NOIC).
“The Government intends to roll out a programme for the supply of local currency (ZWL) fuel into the market for the benefit of the following consumer categories: agriculture value chain, public transport, Government Ministries and agencies, Government projects, motoring public and emergency services.
“The rest of the fuel consumers will continue to be served by oil companies utilising their own resources or free funds and selling the same fuel in foreign currency,” reads part of the statement.
According to ZERA, the local currency fuel will be accessed by oil companies who meet certain criteria.
Some of the conditions under which oil companies can access the local currency fuel include: the company must be a holder of a ZERA licence, and in the case of a procurement licence, the company must have at least three retail sites and it must not have been previously charged or blacklisted for any violation of the law.
The energy regulator has also said designated retail sites should sell in local currency only.
Heavy civil penalties will be imposed on oil companies that fail to properly account for their allocations of the local currency fuel.
Online Reporter