Parliament’s Energy and Power Development Portfolio Committee is to hear evidence from Reserve Bank of Zimbabwe governor John Mangudya this morning on why the country continues to have fuel queues especially after the fuel price increase of January.
The committee will also hear evidence from Secretary for Finance George Guvamatanga on how excise duty on fuel is being implemented.
The Zimbabwe Energy Regulatory Authority is to be asked about the impact of the fuel price increase on the market and whether the arbitrage opportunities have been closed while Energy Minister Joram Gumbo will be asked to give the policy direction for the fuel sector in view of the current challenges.
Zimbabwe has been experiencing fuel shortages since the government announced new monetary and fiscal policies in October last year.
Gumbo has assured the country on several occasions that the country has enough fuel to last the country for two years but the shortages persist.
There have been accusations that the country is being held to ransom by a cartel which enjoys the projection of senior politicians and could have prejudiced the country of more than $1.5 billion over the past five years.
Cabinet was told on Tuesday that eight million litres of diesel were released into the market and the situation was expected to stabilise as the week progressed.
Cabinet also gave light to large companies such as those in the mining sector to use their funds to import fuel for their use.
(84 VIEWS)
