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Zesa Forex Plan On Coal Supplies Set Aside
January 18, 2021
An agreement requiring State-owned ZESA Holdings to pay half of coal supplies in foreign currency has been set aside by Government, Energy and Power Development Minister Zhemu Soda said.
In April last year, the power utility and coal miners agreed that 50 percent of coal be paid in foreign currency, but the agreement had not yet been implemented due to incapacitation of ZESA. The agreement was supposed to take effect from April 14.
The deal had been hammered to support miners that badly needed hard currency to sustain operations in light of forex shortages that were prevailing at the time.