LILONGWE-(MaraviPost)-Information Minister Moses Kunkuyu who is also Malawi Spokesperson government has told fuel price adjustment advocates is not ideal solution to end the crisis.
Kunkuyu observes that unreasonable pump price increases will hurt further Malawians who are already struggling.
The government publicist told the news conference on Wednesday, October 23, 2024 in the capital Lilongwe that President Lazarus Chakwera’s leadership is using other avenue to resolve the crisis including securing funds from Arab Bank for Economic Development in Africa.
“This is the first time hearing calls for fuel prices increases while government sees that as not a last solution to the crisis.
“We know that the country has been making loses in fuel busines but we can’t just hike prices for the sake of it. Caring leadership exhausts all solutions avenues to address the matter which we haven’t done yet”, he observed.
Kunkuyu also recognized the difficulties and dissatisfaction that Malawians are experiencing due to the current fuel shortage.
He elaborated that fuel suppliers in Tanzania and Mozambique had suspended fuel loading for a period of 10 days due to unpaid invoices.
Kunkuyu also pointed out that the lack of foreign exchange is exacerbating the challenges associated with fuel imports.
He indicated that a monthly sum of US$51 million is necessary for fuel imports, yet the government has only managed to allocate US$37 million.
Kunkuyu revealed that discussions are underway to obtain a $100 million facility from the Arab Bank for Economic Development in Africa.
He mentioned that $21.5 million has already been secured, which will enable the importation of 29.9 million liters of fuel.
Additionally, he emphasized the government’s dedication to ensuring that 20 percent of the fuel is transported via rail to improve logistics.
Kunkuyu was addressing the news conference alongside Malawi Energy Regulatory Authority (MERA) and National Oil Company of Malawi (NOCMA).
Two weeks now, Malawi has been grappling with fuel shortages.