The Petroleum Importers Limited–PIL has disclosed that it is currently importing 85% of its capacity due to foreign exchange challenges.
PIL, a private consortium, initially projected that fuel supply would stabilize by end August, with hope of improved forex availability after the devaluation of the kwacha.
However, the situation has seemingly persisted –with forex shortages worsening prompting further disruptions of fuel supply.
This is despite an assurance that the National Oil Company of Malawi–NOCMA has released one million litres of fuel from its reserves.
Meanwhile, PIL General Manager Martin Msimuko confirms that they are still failing to source 22 million dollars it requires to import fuel per month.