Business

State acts to avert fuel price increase

CHOMBA MUSIKA, Lusaka
AS PART of measures to prevent an increment in pump prices of petroleum products and ensure their steady supply, Government has waived 25 percent excise duty on diesel and reduced tax on petrol from K2.07 to 64 ngwee per litre.
Minister of Energy Matthew Nkhuwa says oil marketing companies (OMCs) will now be importing finished petroleum products under the waivers from January 1 to June this year.
Mr Nkhuwa told a media briefing yesterday that the importation of fuel under the waivers offered to 87 OMCs is expected to stabilise supply of fuel in the country.
“The total number of OMCs given the waiver is 87 and the total quantity of diesel allocated to them is 1.9 billion litres, while that of petrol is 934 million litres,” he said.
Mr Nkhuwa said Government is aware that the depreciation of the Kwacha against the United States dollar has a direct effect on the cost of CLICK TO READ MORE




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