Home » Business » Forex major problem in fuel supply: Joram Gumbo

Forex major problem in fuel supply: Joram Gumbo

Minister of Energy and Power Development has said the shortage of foreign currency has been one of the major challenges affecting fuel supply in the country.

Hon.Gumbo said he had appealed to the Minister of Finance Mthuli Ncube to allow mining companies that have access to foreign exchange market (forex) to supply their own fuel without straining the country’s bank Reserve Bank of Zimbabwe since there was limit of ( forex) in the country.

I have also asked the Minister of Finance to allow mining companies with forex to import their fuel so as to ease the burdens on the Reserve Bank of Zimbabwe,”said Gumbo.

Minister said the biggest challenge in the fuel supply was the shortage of foreign currency in the country and the country lost most of its currency after Cyclone Idai hit Zimbabwe.

Cabinet has already taken a decision on that. The biggest problem is not about fuel per se, but provision of forex. We have facilities in place but those handling the finances have foreign currency channels which were compounded by the cyclone disaster which happened, ”said the Minister.

Gumbo also urged citizens no to take into considerate messages from social media falsehoods

“Our people should not rely on social media, ”said Dr Gumbo.

Facebook Comments

Comments

comments

Western Union

About Dalubuhle Dube