OIL Marketing Companies (OMC) president Kafula Mubanga has welcomed government’s plan to borrow money in order to settle fuel arrears, saying it’s been long awaited. On Sunday, Finance Minister Situmbeko Musokotwane revealed that government would borrow money to settle pending fuel arrears. Commenting on the remarks in an interview, Tuesday, Mubanga said a lot of OMCs had lost confidence in the sector as they were owed huge sums of money without clarity of when payments would be made. He said settling the fuel debt would also help in addressing the current commodity prices. “It’s a welcome move, it warrants investment confidence because when government takes a lead in resolving issues of debt in the sector, it warrants confidence in a...

This premium content is for paid ePaper subscribers.
Subscribe
Already a member? Log in here