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Zambia has cheapest oil in the region-Chikwanda

By NATION REPORTER

Fuel in Zambia has become cheaper than in some neighbouring countries; raising the specter  of fuel smuggling  out of the country to, energy expert Eng  Johnstone Chikwanda has warned.

ENERGY expert Johnstone Chikwanda has said the 41 percent removal of taxes on fuel by Government has also  prevented a possible fuel price increase.

He has urged the Energy Regulations Board to remain resolute and continue to protect the integrity of the supply chain including ensuring that no illegal fuel exports happen out of Zambia to neighbouring countries.

Engineer Chikwanda said Oil Marketing Companies should be commended for showing industry statesmanship by ensuring that the fuel situation in the country was back to normal.

He said the normalisation of the fuel situation should as well be attributed to a series of Government’s intervention involving the removal of customs duty at 25 percent, VAT at 16 percent and excise duty on Diesel while on Petrol, the excise duty has been reduced.

“This demonstrates the extent to which Government has gone to cushion the general public against possible fuel prices increases while protecting security of supply,” Eng Chikwanda said.

He said with the interventions by Government, the national fuel stock had significantly improved.

“Information on the ground is that in a short space of time, the national fuel stock level has significantly improved and continues to increase thereby increasing the energy security in the country,” he said.

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