Fuel pump prices to remain stable
Friday, January 20, 2017
Government has enough cash reserves to cushion international oil prices increases
In an interview with BusinessWeek, director of energy, Kenneth Kerekang said at the moment the department relies on the National Petroleum Fund (NPF), which he stated has adequate funds to provide the ‘exquisite’ cushion to the prices.
The National Petroleum Fund is used by government to pay petroleum retailers the difference between the administered and prevailing fuel prices.
Whilst the project received mixed reactions from members of the public, the project is indeed a welcome development, which needs to be implemented as soon as possible. Many shared their opinion, with those against the project decrying that if implemented, it will kill the already struggling public transport industry.Many countries around the world have state-run public transport, and those who have travelled to such countries will give testimony...