By Staff Reporter
President Lazarus Chakwera has assured the country of fuel availability in all service stations in the short term.
Making his address on the current fuel crisis during the 2022 Malawi Investment Summit at Bingu International Convention Centre ( BICC) in Lilongwe on Wednesday September 7,2022, Chakwera said he has already engaged with officials from the Ministry of Energy, National Oil Company of Malawi and Malawi Energy Regulatory Authority to conclusively address this major economic setback that has hit the county’s economy for a couple of weeks now, adversely affecting manufacturing, businesses, work and domestic life.
“I want to assure you that we are seized of this matter to ensure that there is product in the service stations in the short term, while we work on the long term in respect of forex issues that are at the root of this problem,” said Chakwera
He said currently, the country has secured $28 million from local banks to address the problem and that it is in pursuit of another $50-million-dollar facility for the same.
Chakwera added that right now, there are over 6 million litres being brought into the country, plus doubling the daily distribution of the product from the county’s reserves to ease the burden.
“Going forward, I have instructed the Reserve Bank of Malawi to prioritise fuel procurement in the allocation of any forex we secure.
“I want to thank all Malawians for their patience as we attend to this problem as a matter of urgency,” said Chakwera.
