By Chisomo Phiri
In an effort to deal with fuel supply challenges across the country, the country’s fuel supplying company, the National Oil Company of Malawi (NOCMA) says it has now added four more new suppliers of oil to its roster.
Micklas Reuben, Director of Operations at NOCMA confirmed of the development saying the new means of importing fuel will help the country overcome foreign exchange difficulties by 15 percent, as local firms are enlisted to help with the transportation of the commodity.
Reuben added that the move will also help to stabilize fuel availability in all depots across the country.
But when contacted, Martin Msimuko, General Manager of Petroleum Importers Limited (PIL) raised concerns over access to further fuel due to outstanding debts of $13 million to suppliers.
“Yes, it is a good development but still there are a lot to be done so as we see a good improvement,” he stressed.
NOCMA was established in 2010 under the Companies Act of 1984 and its Mandate is to manage a strategic fuel reserve facility in accordance with Government’s approved Strategic Fuel Reserve Management Plan; provide, at a fee, hospitality to new entrants as one way of promoting competition and promote upstream oil and gas exploration.
In order to effectively execute its mandate, NOCMA initiated several reforms under the Malawi Public Sector Reforms Programme that was launched by Professor Arthur Peter Mutharika in February 2015.
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