FINANCE and National Planning minister Situmbeko Musokotwane has shed light on the apparent affordability of fuel during the previous administration, attributing it to government’s failure to fulfill its financial obligations to petroleum suppliers.
Speaking at a public forum organised by News Diggers in Lusaka on Friday, Musokotwane revealed that upon assuming office, the current administration was confronted with a staggering K800 billion for fuel procurement underscoring the magnitude of the financial challenge inherited.
He emphasised that the previous government’s neglect of its responsibility to settle payments with fuel suppliers created an illusion of cheap fuel prices.
“The previous government was not paying for petroleum. Therefore, it appeared as if fuel was cheap,” said Musokotwane.
“In fact when we came into power, we found it (fuel debt burden? at K800 billion and we were threatened with paying more.”
He stated that this was not a sustainable strategy, as it left the country vulnerable to potential penalties and repercussions.
The minister explained on the trade-off between fuel subsidies and essential public services, suggesting that the previous administration’s prioritisation of subsidising fuel came at the expense of critical sectors such as education.
“PF subsidised fuel not education because they thought fuel was more important than education,” stated Musokotwane.
“PF said sorry to school pupils but we are saying sorry to drivers of cars.”
Musokotwane reassured the public that government is actively addressing these issues and expressed optimism for the future.
He affirmed that the current difficulties in the country are temporal and brighter days lie ahead.
By Catherine Pule
Kalemba, May 6, 2024
