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Alba Iulia
Saturday, March 6, 2021

Energy Minister Matthew Nkhuwa announces the removal of excise duty on diesel

Economy Energy Minister Matthew Nkhuwa announces the removal of excise duty on diesel

Energy minister Matthew Nkhuwa has announced the removal of excise duty on diesel while excise duty on petrol has been reduced to K0, 64 per liter from K2.07 to maintain the fuel pump prices.

Mr. Nkhuwa has disclosed that some oil marketing companies had threatened to increase fuel pump prices following the continued depreciation of the Kwacha which resulted in expensive fuel importation.

He says some oil marketing companies had also resorted to hoarding fuel thereby creating artificial shortages on the market.

Mr. Nkhuwa has assured the nation that the removal exercise duty and the zero-rating of VAT will cushion the shortage of fuel within a week.

22 COMMENTS

  1. Iwe natumfwa ati the country owes $500M for fuel. Why is it our problem? We pay for our fuel at the pump capwa twapyamo. If you guys don’t pay the suppliers it’s nothing to do with us. So next time you should say PF owes $500M for fuel and not the country.

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  2. These are very difficult decisions, I hope you’re not making them just for political expedience. I supported you on the VAT because that’s a tax that has consistently underperformed. I hope you’ll make a statement to tell us if this translates into revenue loss and by how much? I also wish to remind you that your finger isn’t yet safe because electricity supply in many areas is still unpredictable. It’s better to remind you than to see you wailing in Tumbuka when I finally cut your finger

  3. Now you see why Indeni is important. Buy crude oil for Indeni and all taxes will remain intact & the 2021 budget will not be disturbed. Are we sure OMCs will not come up with another blackmail tomorrow?

  4. Oil marketing companies are not charities. They are businesses who need profits to survive and grow.

    If the kwacha deprecates due to poor governance then you don’t blame oil marketing companies whose costs also rise. You blame the government.

    So there is no issue of blackmailing here. Its business as usual. Once again i would like to educate you that OMCS are not NGOS.
    Aikona mwaiche

  5. Did OMCs do some maths where they established that once govt remove VAT & Duty these profit thirsty companies will make a profit? If not its still blackmail.

  6. The wheels are coming off now. 20-21 budget derailed already. Zed will certainly pay dearly after the elections. Dununa Reverse in full swing…..

  7. Wow. Things are accelerating to subterranean levels! Soon drills will come out for drilling below the rock that we have hit mwe.

  8. This is an election year so the PF government does not want to increase fuel even though the kwacha has depreciated more than 100% due to their own mismanagement of the economy because that will be a death knell for them. The quick fix temporary solution is to remove vat and excise duty just in order to maintain prices until elections with the hope that after winning elections they will hammer so much on all commodities including fuel and electricity to recover the current losses. God help us if they come back after August because the same fuel will be K40 per litre.

  9. Don’t be fooled Zambians.immediately you vote for them everything and much more will be brought back!!!
    Vote out PF

  10. There will be no downward adjustment. This is just to offset the kwacha depreciation that would have led to an increase in pump prices. So just soldier on with current prices but know that come September 2021, steep increments are coming unless the kwacha magically appreciates. Govt is simply subsidising your fuel now bcoz they desperately need your vote.

  11. Election year and the unprecedented interventions that the public will get no clear explanations will surface in abundance! Expect more reliefs but be wary that the measures will only last for elections to pass and PF is re-elected!

  12. K50 per Litre by the end of 2021. That’s when the real suffering will start for the middle class/ civil servants. The poor are already dying, the middle class are next.

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