By Lerato Ndlovu
Government has said it will soon cancel operating licences of local fuel traders abusing the foreign currency facility.
Addressing the media Minister Information Publicity and Broadcasting Services Hon Monica Mutsvangwa said after obtaining foreign currency from the RBZ auction system, some fuel traders still went on to charge customers using foreign currency.
“Cabinet received a report on the country’s fuel and power demand and supply situation, which was presented by the Minister of Energy and Power Development, Honourable Zhemu Soda.
“Cabinet noted with deep concern that some fuel companies are abusing the foreign currency obtained from the Reserve Bank of Zimbabwe Auction to procure fuel and then sell the fuel to consumers in foreign currency.”
She said that companies are supposed to follow laid down regulations, and the ministry has a list of corrupt traders.
“The companies are supposed to follow laid down regulations, in order to enable the general motoring public to access fuel in the local currency.
“Cabinet was furnished with a comprehensive list of the companies and retail outlets abusing the foreign currency facility, and directed that firm action be instituted against the unscrupulous traders.
The action to be taken on the offenders involve prosecution of offenders, cancellation of fuel trading licences, or a heavy fines as shall be determined by the team of relevant line Ministries in conjunction with the Reserve Bank of Zimbabwe as the source of the funds so abused.
Government to penalise corrupt fuel companies