Fuel scarcity continues in Malawi as the Petroleum Importers Limited (PIL) says importation of the commodity has been affected by shortage of forex.
Since yesterday morning, there have been long queues at filling stations across the country as many service stations did not have the commodity.
Motorists complained that they are spending a lot of hours at filling stations instead of going about conducting their businesses.
“It’s better to raise the prices of fuel if that would ensure fuel availability. Otherwise, the scarcity is affecting our businesses,” said one minibus driver we talked to.
Last week, the National Oil Company of Malawi (NOCMA) claimed that Malawi has enough fuel and it attributed the shortage to a Kizz Daniel show held on August 27. The company said it would release million litres of fuel from its reserves to stabilize the situation.
However, despite the claim, the shortage of fuel has persisted. NOCMA has since described the current shortage as a temporary challenge.
Meanwhile, Petroleum Importers Limited General Manager Martin Msimuko has said it is importing 85% of its capacity due to foreign exchange scarcity in Malawi.
Speaking to the local media, Msimuko said the company is struggling to source US$22 million which is required to import fuel per month
Commenting on the shortage, business journalist King Jassi noted, in a Facebook post, that in June last year Malawi raked in about $100 million from exports and spent $225 million on imports but in June this year the country made $75 million while imports increased to about $280 million and this could explain why there is shortage of forex.
“This simply means two things; the country’s demand for imports is increasing while exports are not matching. It’s like you are increasing your expenditure but not your income. Obviously, you start experiencing financial problems.
“Actually, that’s how the government is messing up this economy. The national budgets are not in line with the country’s forex levels. Simple!
“The fuel scarcity, failure to import fertilizer till now and the rising inflation will continue unless there is a bailout by some well-wisher,” Jassi wrote on his Facebook.
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