The Sunday Mail
Kuda Bwititi Chief Reporter —
Reports of fuel supply gaps on the domestic market are being overplayed as the Reserve Bank of Zimbabwe is providing hard currency for regular petroleum product imports, Finance and Economic Development Minister Patrick Chinamasa has said.
In an interview with The Sunday Mail, Minister Chinamasa also said Government has directed all fuel dealers to accept bond notes and point of sale transactions.
Over the weeks, the market has been abuzz with reports that Zimbabwe was facing serious fuel shortages, and this reached a crescendo with last week’s introduction of bond notes. Some filling stations in Harare reported receiving supplies intermittently, further fuelling speculation.
However, Minister Chinamasa assured the nation that fuel dealers were holding regular meetings with the RBZ and Government.
“The so-called shortages are being exagerrated. The RBZ have been having meetings with fuel suppliers and they are constantly engaging with them on a weekly basis. I know for certain that the RBZ met the fuel suppliers and they deliberated on any problems or potential problems in the fuel industry.
“I want to assure the nation (over this supply issue). If there are still some fuel suppliers who are refusing plastic money, then we are talking about only a few garages. I would be surprised if there are many. This is because none of the fuel suppliers use their own foreign currency to import fuel.
“They actually rely on the RBZ. So, the foreign currency which is earned from exports is what we use to buy fuel. Fuel dealers actually queue at the RBZ to get their allocation of foreign currency. Therefore, they have no reason whatsoever to refuse plastic money or bond notes given that they also rely on the RBZ.”
Minister Chinamasa also said: “I challenge people to continue informing us whenever there is a problem. If there is a certain service station not accepting such transactions, let the ministry (of Finance) and the RBZ know because it is something that we can solve on our own.
‘‘We need proof that a specific service station is doing that and we will immediately act on it.
“The programme of bond notes has been an overwhelming success, and it has even exceeded our expectations. We acknowledged that there are teething problems here and there, but it is nothing to write home about.”
