Tuesday, January 26, 2021
  • About Us
  • ImagiNATION
  • Adverts
  • Rate Card
  • Contact Us
The Nation Online
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation
No Result
View All Result
No Result
View All Result
Home Business Business News

Goodall says Malawi fuel crisis to end soon

by Johnny Kasalika
03/02/2012
in Business News
3 min read
0
Share on FacebookShare on TwitterShare on WhatsAppShare on LinkedinLinkedinShare via Email

gooodaal | The Nation OnlineMalawi’s fuel crisis will shortly be a thing of the past, Natural Resources, Energy and Environment Minister Goodall Gondwe has reiterated.

RelatedHeadlines

Treasury rebuffs MCCCI on stimulus package

Kwacha still Under pressure

Malawi to benefit from Comesa digital payment policy

He stressed that Malawi Government is working tirelessly to find a lasting solution.

“We are doing something about the fuel problem and I am sure this will soon be solved. Those who are fair will agree that we have started solving that problem,” said Gondwe in his latest comment since the availability of the commodity improved over the past few weeks.

He did not say what government is doing to end the crisis only insisting that they are working day and night to find the solution to the problem.

Spot checks have revealed a slight improvement in the availability of fuel, particularly petrol in the past few weeks.

Long queues that were a common sight in the last few months in most of the pump stations have disappeared with motorists refuelling their vehicles without hassles.

Gondwe said he has all the confidence that with guidance from President Bingu wa Mutharika the situation will be a thing of the past and that Malawians will have the last laugh.

Malawi’s fuel crisis has been compounded by a huge deficit in foreign currency largely affected by a 30 percent dip in this year’s  tobacco revenue—which accounts for 60 percent of foreign exchange revenue and a donor aid freeze.

Malawi’s donors under the Common Approach to Budgetary Support (Cabs) have also not disbursed their budgetary support in the 2011/12 national budget amounting to K65 billion due to some governance concerns and the suspension of the economic programme with the International Monetary Fund (IMF).

Since the fuel crisis emerged, government has heavily relied on borrowed funds from, among others, PTA Bank and other foreign governments, to ease the acute shortages of the commodity.

Last month, Puma Energy (Malawi) Limited cautioned motorists against  panic buying of fuel, arguing that government and fuel industry players have developed a comprehensive strategy that will soon end the fuel shortages.

The comprehensive strategy to end the fuel crisis that has crippled a number of sectors, including transportation and manufacturing, involves government, the Petroleum Importers Limited—a consortium of five fuel importing companies— Malawi Energy Regulatory Authority (Mera) and National Oil Company of Malawi (NOCM).

Dr Davis Lanjesi, managing director of Puma Energy (Malawi) Limited, formerly BP Malawi, attributed the shortage of the commodity to its artificial demand on the market.

He hailed Mera’s directive to ban the selling of fuel in jerry cans as timely because the black market operators, who mostly buy in containers, have been causing shortage of the commodity on the formal market.

Currently, the combined daily demand for fuel stands at 1.124 million litres, translating to 33.6 million litres per month, according to figures from the Ministry of Finance and Development Planning.

At current prices, Malawi’s monthly fuel import bill stands at $34 million (K5.7 billion). In May 2010, the same volumes were valued at $21.4 million (K3.5 billion), which translates to over $370 million (K62 billion) annual bill for petroleum products.

Previous Post

Producers release 1st picture of next Bond film

Next Post

Malawi theatre at crossroads

Related Posts

williams banda 1 | The Nation Online
Business News

Treasury rebuffs MCCCI on stimulus package

January 26, 2021
graph 7 | The Nation Online
Business News

Kwacha still Under pressure

January 26, 2021
Pinifolo: The aim is to empower MSMEs
Business News

Malawi to benefit from Comesa digital payment policy

January 26, 2021
Next Post
The Nation Online Malawi theatre at crossroads

Malawi theatre at crossroads

Trending Stories

  • Mlusu presents the budget in this file photo

    Budget off rails

    0 shares
    Share 0 Tweet 0
  • SA returnees in forced quarantine

    0 shares
    Share 0 Tweet 0
  • Tonse faulted on former presidents’ benefits

    0 shares
    Share 0 Tweet 0
  • Smuggling of flour, cooking oil rising, say traders

    0 shares
    Share 0 Tweet 0
  • Govt increases Covid-19 testing sites

    0 shares
    Share 0 Tweet 0

Opinions and Columns

My Turn

Behaviour change key in Covid-19 fight

January 25, 2021
Emily Mkamanga

Citizens power brings change

January 24, 2021
Search Within

The rural farmer needs to take centre stage

January 24, 2021
My Thought

Spread hope not fear

January 24, 2021
  • Values
  • Our Philosophy
  • Editorial policy
  • Advertising Policy
  • Code of Conduct
  • Plagiarism disclaimer
  • Disclaimer
  • Privacy Policy
  • Terms of use

© 2021 Nation Publications Limited. All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Entertainment
  • Life & Style
    • Every Woman
      • Soul
      • Family
    • Religion
    • Feature
  • Society
  • Opinion
  • Sports
  • Chichewa
  • Enation

© 2020 Nation Publications Limited. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.