Business

‘Remove middlemen in fuel process’

KALONDE NYATI, Lusaka
AN ENERGY consultant says there is need to streamline  fuel procurement process by removing middlemen to ensure consumers benefit from reduced price on the global market.
Mr Andrew Kamanga said in an interview on Wednesday before the reduction of fuel price yesterday.Government has reduced the price of petroleum products by an average of K2.60.
Mr Kamanga said restructuring of the oil procurement process will translate in the country buying the commodity at a much cheap  price.
Prices of oil have continued to drop, trading below US$50 per barrel on the international market.
Mr Kamanga said streamlining the procurement process will further reduce the cost of fuel in the country.
“The international oil prices have reduced by over 60 percent,” he said.
He also said Government should identify affordable sources of fuel imports citing Angola and Nigeria as some of the countries, Zambia should consider importing fuel from.
“Continued processing of
coming led crude oil makes the fuel expensive to land in Zambia. The country should continue with oil exploration as long-term measure but also look at medium measures where a new refinery to process crude from Angola and Nigeria can be an option,” he said.
Mr Kamanga said that there is need for reliable and affordable supply of fuel because key sectors such as mining, agriculture, manufacturing and transport depend on the commodity to operate effectively.
He also said there is need for policies that will ensure a vibrant energy sector, as it is key in economic development.

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