Mangudya responds to fuel shortages

Reserve Bank of Zimbabwe Governor Dr John Mangudya has responded to fuel shortages in Zimbabwe.

The RBZ has increased the amount of foreign currency available to fuel companies to USD10 million from USD7 million per week.

Acccording state broadcaster ZBC  Dr Mangudya said if there is any shortage of the product on the market it has to do with the logistical part of the industry as funds are constantly availed.

Dr Mangudya warned fuel companies against creating artificial shortage of the product for personal interests urging stakeholders against sending negative signals which are unwarranted.

Under the RBZ foreign currency priority list certain industries have precedence over others based on a list of hierarchy. Fuel gets a weekly allocation to pay creditors outside the country.