Energy Minister, ZERA Contradict On Selling Of Fuel In Foreign Currency

4 years ago
Mon, 31 Dec 2018 02:07:47 GMT
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Energy Minister, ZERA Contradict On Selling Of Fuel In Foreign Currency

Energy and Power Development Minister Joram Gumbo told The Chronicle that it is not Government policy for some dealers to sell fuel in foreign currency.

Some licensed service stations have been reportedly selling fuel in foreign currency only. Speaking by telephone from Harare last Friday, Gumbo said:

It’s not Government policy that fuel dealers should sell their fuel in foreign currency. So far there hasn’t been any pronouncement by the Government that there is now a change of that policy. At the moment, some are selling fuel in forex but at what rate?

However, in an e-mailed response to The Chronicle, the Zimbabwe Energy Regulatory Authority acting chief executive officer Mr Eddington Mazambani said fuel retailers can charge in foreign currency because the RBZ approved a basket of currencies. He however said it is illegal for dealers to refuse to accept RTGS or bond notes. Said Mazambani:

In that context, licensed petroleum retailers are allowed to charge fuel in forex at the approved Reserve Bank of Zimbabwe exchange rate. It is illegal, however, to refuse to accept RTGS (Real Time Gross Settlement) and bond currency as a payment method. The public is encouraged to report any cases of retailers who are not accepting RTGS or bond payments for fuel to the Reserve Bank of Zimbabwe (RBZ) who will in turn take the necessary measures to address the matter.

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