'Authorising The Sale Of Fuel In Forex In Discriminatory'

3Ā years agoSat, 29 Feb 2020 03:25:50 GMT
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'Authorising The Sale Of Fuel In Forex In Discriminatory'

Captains of industry have slammed the decision by the government to authorise some fuel dealers to sell fuel in foreign currency at selected fuel service stations.

Confederation of Zimbabwe Industries (CZI) immediate-past president Sifelani Jabangwe said allowing some fuel dealers to sell fuel in hard currency is discriminatory. Said Jabangwe:

Yes, Government has allowed those with free funds to import fuel and sell it in forex, but this should be a temporary measure.

There should be no segregation in accessing fuel. Those who import using their money want to recoup their expenses and they will continue selling in hard currency.

Jabangwe added that the selling of fuel in foreign currency would lead to redollarisation, which Zimbabwe is not ready to adopt.

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Last week Reserve Bank of Zimbabwe (RBZ) GovernorĀ John MangudyaĀ said the Central Bank has given theĀ Zimbabwe Energy Regulatory Authority (ZERA)Ā approval to register fuel service stations with free funds for direct imports to be sold in foreign currency.

More: The Herald



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