Zimbabwe Government Plans To Take Over All Fuel Importation

[hatrack]

Great, THAT'LL make things better. :eyes:

Zimbabwe's government is planning to take over the importation of all fuel in a bid to stop the abuse of foreign currency by private importers, South African public television reported Monday.

Harare has accused many of the 54 private importers of abusing foreign currency allocated to them, and wants the state-owned National Oil Company of Zimbabwe to take over fuel importation, SABC television reported.

"We would like Zim to be the sole importer of fuel, so that we direct all the foreign currency to one source, so that we avoid duplication like speculative behaviour, which was now characteristic of the oil industry," said Mike Nyambuya, energy and power development minister.

Fuel importers have also been accused of trading on the black market and charging exorbitant prices. Rampant inflation in Zimbabwe has led to a government clampdown on businesses. Retailers and manufacturers, grappling to cope with the inflation rate now believed to be well over 5,000 percent, had been raising their prices several times a day until the government ordered prices to be cut in half on June 26.

EDIT

http://www.africasia.com/services/news/newsitem.php?area=africa&item=070723184450.s32fy15k.php

[Nihil]

1. "Going for broke" in a very literal way.

Hey, we saw how well everyone is managing the farms they took over
so what can possibly go wrong with this move?

:eyes:

Surely people can trust their government not to be corrupt when they've
had so many years of good examples?

:rofl: