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2021-05-20 02:05:56 GMT2021-05-20 10:05:56(Beijing Time) Xinhua English
HARARE, May 19 (Xinhua) Zimbabwe s energy minister Soda Zhemu has said 40 percent of its fuel should be sold in local currency.
His remarks, reported by the state broadcaster Zimbabwe Broadcasting Corporation on Wednesday, came in the wake of the lack of fuel sold in Zimbabwe dollars.
He said motorists should be afforded the opportunity to buy fuel in Zimbabwe dollars as the Reserve Bank of Zimbabwe (RBZ) is providing foreign currency to fuel operators in exchange for local currency to procure the commodity.
There are two ways in which fuel is procured in Zimbabwe, either through free funds or through the RBZ facility of foreign exchange auction system which means there are two options to buy fuel with foreign currency or local currency.
ENERGY Minister Soda Zhemu has said 40% of fuel should be sold in local currency.
His remarks, reported by the state broadcaster Zimbabwe Broadcasting Corporation on Wednesday, came in the wake of the lack of fuel sold in Zimbabwe dollars.
He said motorists should be afforded the opportunity to buy fuel in Zimbabwe dollars as the Reserve Bank of Zimbabwe (RBZ) is providing foreign currency to fuel operators in exchange for local currency to procure the commodity.
There are two ways in which fuel is procured in Zimbabwe, either through free funds or through the RBZ facility of foreign exchange auction system which means there are two options to buy fuel with foreign currency or local currency.