Foreign exchange challenges that are still disrupting Malawi’s fuel supply – Rayrice Forex News

Foreign exchange challenges that are still disrupting Malawi’s fuel supply

The Malawi Energy Regulatory Authority (MERA) has blamed the country’s fuel crisis on the lack of foreign exchange.

Mera said in a statement yesterday that the fuel crisis in Malawi continues to worsen as motorists rush to service stations to get fuel.

According to MERA, loading of Malawian fuel has stopped at Beira and Dar es Salaam ports because Malawi does not have forex to pay for its fuel.

The official added that the government is currently working with importers to stabilize the fuel supply situation.

“The country’s major oil importers have established letters of credit and the oil supply situation will gradually improve over the next few days,” Meera said.

The fuel crisis in Malawi has been going on for months and was once blamed on a music show headlined by Nigerian superstar Keith Daniels.

Later, Chakwera admitted that lack of foreign trade was at the root of Malawi’s crisis.

Fuel shortages have worsened in the country since Monday this week, with motorists spending hours at the stations trying to get supplies.

Other motorists have been buying fuel on the black market at K4,000 per litre, double the recommended retail price.

The fuel crisis has led to an increase in transport charges and prices of some goods.

Yesterday, Chaquera was taunted as he passed a petrol station with long cars waiting for fuel.

Speaking at an event held at State House last night, Chakwera said he gained insights from hearing Malawians express their frustrations.

Chakwera said hearing the voices of citizens who are in such trouble is an important reminder that he has the desire to serve in power and the problems of his government are the people he was elected to serve.

Meanwhile, Chakwera left for Egypt today to attend the United Nations Climate Change Conference.

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