The Conditions For Selling Fuel In Foreign Currency In Zimbabwe
The government has published the requirements necessary for oil companies to meet so that they may be allowed to sell fuel in foreign currency.
This comes after the government introduced the direct fuel imports programme which allows oil companies with their own sources of foreign currency, to import and sell fuel in foreign currency. This comes as the government tries to ameliorate the debilitating shortage of fuel which has been plaguing the nation for the past few years.
The Zimbabwe Energy Regulatory Authority ZERA has announced that petroleum companies should submit the proposed sites where they will be selling the fuel. However, the companies will only be limited to two service stations which trade in foreign currency in both Harare and Bulawayo. In all other towns, an oil company will only be allowed to have a single site trading in foreign currency.
Below is the notice from ZERA to all oil companies in the country,
All Fuel Sector Companies
SELECTION OF SITES FOR DIRECT FUEL IMPORTS (DFI) AND TRADING IN FOREIGN CURRENCY
Petroleum companies are requested to submit proposed sites to sell fuel in foreign currency procured through free funds based on the following criteria: –
1. A maximum of two (2) sites in Harare and Bulawayo per petroleum company: and
2. A maximum of one site in all the other towns and cities.
Please note that selected sites will be expected to do 100% direct fuel imports (DFI). For companies that do not hold procurement licences, the submissions should include the name of the supplier of the fuel to be traded in foreign currency.
Petroleum companies are advised to make submissions before the end of day on Tuesday, 3 March 2020.
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The post Here Are The Conditions For Selling Fuel In Foreign Currency In Zimbabwe appeared first on iHarare News.