Connect with us

Slider

Fuel price hike looms after 323% levy increase

Published

on

HARARE -Zimbabwe’s government has increased the strategic reserve levy by as much as 323%, a move which will push the country’s fuel price, already the highest in the region, higher.

A notice by Finance and Economic Development minister Mthuli Ncube, issued on September 3, 2021, shows that the strategic reserve levy, which is charged on all fuel imports, is now US$0,127 for a litre of diesel and US$0.087 per litre of petrol.

Advertisement

Previously, the strategic reserve levy for both diesel and petrol was US$0.03 per litre.

Through the same notice, the government also announced the reduction of the Noczim debt redemption levy to zero, from US$0,057 per litre of fuel, but this is scant consolation for Zimbabwean motorists who will continue to pay way more than their regional counterparts at the pump.

The levy changes amount to a net increase of US$0,03 and US$0,04 per litre of petrol and diesel, respectively.

Advertisement

Before the changes, Zimbabweans were being charged as much as US$0,49 in various fuel taxes and levies. In other words, government taxes and levies account for nearly 40% of the fuel price.

Zimbabwe’s regional peers such as Mozambique, Zambia and Botswana pay between US$0,81 and US$1 for a litre of fuel.

Apart from further worsening Zimbabwe’s weak regional competitiveness, the levy increase will fuel bubbling inflationary pressures.

Advertisement

Month-on-month inflation quickened from 2,56% in July to 4,18% in August, as the government revised its year-end annual inflation rate target from below 10% to as high as 35%.- newZwire

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Slider

Zimparks launches elephant culling program

Published

on

BY NOKUTHABA DLAMINI

In a bid to address the growing elephant population in Save Valley Conservancy, the Zimbabwe Parks and Wildlife Management Authority (ZimParks) has issued permits for a controlled elephant management exercise.

The exercise, slated to commence shortly, aims to cull an initial 50 elephants from the conservancy, which is currently home to 2,550 elephants – more than three times the ecological carrying capacity of 800 elephants.

According to ZimParks, the conservancy has been struggling to cope with the swelling elephant population, which has put a strain on the wildlife habitat and resources. Over the past five years, the conservancy has translocated 200 elephants to other areas, including Hurungwe and Sapi, in an effort to manage the population.

Zimparks says the controlled culling exercise is expected to provide relief to the conservancy’s ecosystem, while also benefiting local communities.

Elephant meat from the exercise will be distributed to local communities while the ivory will be kept by the State.

In a statement, ZimParks spokesperson Tinashe Farawo emphasized the authority’s commitment to responsible and sustainable wildlife management.

“We remain committed to ensuring that our wildlife resources are managed in a responsible and sustainable manner, for the benefit of present and future generations.”

Continue Reading

In the community

Hwange police seek public’s help in locating missing teen

Published

on

BY STAFF REPORTER 

The Hwange police are urgently seeking the public’s assistance in locating 16-year-old Latoya Lisa Munkuli, who went missing on May 7, this month.

Latoya, a dark-complexioned female juvenile, was last seen leaving her residence in Hwange around 4 pm.

She was wearing a distinctive outfit consisting of green trousers and a white T-shirt, and carried a black satchel. She stands approximately 1.6 meters tall.

Inspector Glory Banda of the Hwange police is leading the investigation and urges anyone with information about Latoya’s whereabouts to come forward.

If you have any information about Latoya’s disappearance, please contact Inspector Banda on 0785961747 or 0771256607.

Continue Reading

National

Coal train in flames: NRZ locomotive damaged in fire incident

Published

on

BY WANDILE TSHUMA 

A National Railways of Zimbabwe (NRZ) locomotive suffered significant damage after catching fire while transporting export coal to Zambi. The incident occurred between Kalala and Matetsi sidings, resulting in the explosion of the locomotive’s fuel tanks.

According to the NRZ press statement on Monday, “A National Railways of Zimbabwe locomotive suffered some damages after it caught fire this afternoon while transporting export coal to Zambia.” Fortunately, the crew members on board managed to escape unharmed.

The NRZ responded swiftly to the incident, dispatching a rescue train with crews to the site. The team successfully extinguished the fire, preventing further damage. However, the locomotive itself sustained considerable damage.

The cause of the fire is yet to be determined, with investigations currently underway. “Investigations are already underway to establish the cause of the fire and the amount of damage to the locomotive,” the NRZ statement read.

Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage