By Sarah Banda
Malawians should brace for tougher times ahead, as Minister of Information and Digitalization, Shadric Namalomba, says currently the governmentently government does not have the purchasing power for fuel imports.
The development is in stark contrast to the Reserve Bank of Malawi who recently told one of the daily papers claiming that the country’s foreign exchange reserves stood at USD608.9 million, sufficient for 2.4 months of imports.
Speaking to reporters on Tuesday, Namalomba explained that the government is trying to negotiate a USD120 million with Aflexim Bank to purchase 120 million litres of fuel. He has since pleaded with Malawians to be patient as government moves to reverse tge situation.
People across the country are grappling with the harsh realities spawned by the fuel crisis. Long queues have been formed outside gas stations, stretching for blocks, as frustrated drivers waited in vain for the arrival of fuel trucks.
The black market thrived amid the official scarcity, with fuel being sold at an astronomical price of K20,000 per liter — three times the government approved rate.
