Petroleum Imported Limited (PIL) has said, Malawi will have more fuel supply since the consortium of oil marketing companies has a lot of fuel in transit despite the war in Ukraine and the scarce of forex in the country.
PIL General Manager, Martin Msimuko made the remarks during a media workshop in Zomba district.
“At PIL, we understand the value of our business towards the growth of our economy hence we strive to keep the country running and therefore, despite the global and local challenges being experienced, we are doing our best to sustain fuel reserves”, said Msimuko
He described the financial and logistical challenges as the main factors that are contributing to fuel inadequacy in the country and suggested to use railways as a means of importing fuel to ensure high volumes and cut off pump prices.
On the proposal of National Oil Company of Malawi (NOCMA) to import 90% of fuel and leaving 10% to private sectors Msimuko was not convinced because the development might cause the fuel scarcity in the country.
“The 90/10 proposal is risky to the country’s fuel industry, we cannot have one player in the business. The development might cause total scarcity of fuel in the country,” he said.
NOCMA imports about 50% of fuel in the country but still pushes to own 90% of fuel transportation in the country.
During an interaction with media in Lilongwe recently, Hellen Buluma, Deputy Chief Executive Officer for NOCMA said fuel is a commodity with serious implications to the economy and not to be left to the private sector.
“Fuel is a strategic commodity which affects both the economy and national security. This is why we want to control how our product comes into the country”, said Buluma
Recently the prices of fuel have gone up due to the war of Ukraine and Russia leaving people in the country with a lot of challenges.
