OMCs WARN OF POSSIBLE PRIVATIZATION OF INDENI FOR PERSONAL GAIN BY SOME MULTINATIONAL INDUSTRY PLAYERS
By Michael Kaluba
The Oil Marketing Companies Association of Zambia has warned of ongoing efforts by some multinational industry players and government officials to have Indeni Energy liquidated or privatized for personal gain.
The Energy Regulation Board has directed oil marketing companies to engage Indeni Energy company for their diesel requirements and ensure to avail the product at retail sites around the country while dismissing reports suggesting a shortage of diesel in the country.
However, OMCAZ President Dr. Kafula Mubanga has questioned how government expects Indeni Energy to stabilize the supply of fuel when it has failed to fund the company despite it showing willingness by engaging Vito energy to rival monopolized supply by Agro-fuels at TAZAMA.
Dr. Mubanga says the rebranding of Indeni from a refinery to an OMC, was a betrayal to Zambia at the request of multinationals who wanted to optimize their profits, a situation he says has caused the current high pump prices and partly, destabilizing the exchange rate.
He adds that while Indeni’s decision to engage Vito to bring in product may help to stabilize supply, engage more local companies and bring down the cost of fuel, the company has no capacity to meet demand due to lack of funding from government.
PHOENIX NEWS
Bunch of criminals bent to sell everything for personal gain. Time will come to account.