Fuel importers fear take-over

Fuel problems have worsened in the country following the withdrawal of licences to three oil importers by government on allegations that they were overcharging because they had received their forex at the official rate from the Reserve Bank.
Most service stations in major towns and ci

ties have not been selling fuel this week, which increased in price on the parallel market to beyond Z$120 000 per litre.
The high fuel prices are responsible for a ripple increase in prices of all other commodities, compounding problems for the already burdened consumers.
“We are thinking of stopping operations because we can’t wait for the unknown,” one fuel importer said. “There are fears they might take over our firms and considering what we have put in, that would be a terrible loss making it a better option to stop before they come for us.”
Fuel importers denied government claims that they were getting foreign currency from the RBZ saying they were buying it on the parallel market at exorbitant rates because of the country’s economic crisis. – Itai Dzamara

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