{"id":31078,"date":"2022-09-10T18:37:11","date_gmt":"2022-09-10T18:37:11","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi"},"modified":"2022-09-10T19:20:50","modified_gmt":"2022-09-10T19:20:50","slug":"forex-crisis-hits-fuel-imports-in-malawi","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi","title":{"rendered":"Forex crisis hits fuel imports in Malawi"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>Fuel scarcity continues in Malawi as the Petroleum Importers Limited (PIL) says importation of the commodity has been affected by shortage of forex. Since yesterday morning, there have been long queues at filling stations across the country as many service stations did not have the commodity.<\/p>\n

Motorists complained that they are spending a lot of hours at filling stations instead of going about conducting their businesses. \u201cIt\u2019s better to raise the prices of fuel if that would ensure fuel availability. Otherwise, the scarcity is affecting our businesses,\u201d said one minibus driver we talked to.<\/p>\n

Last week, the National Oil Company of Malawi (NOCMA) claimed that Malawi has enough fuel and it attributed the shortage to a Kizz Daniel show held on August 27. The company said it would release million litres of fuel from its reserves to stabilize the situation.<\/p>\n

However, despite the claim, the shortage of fuel has persisted. NOCMA has since described the current shortage as a temporary challenge. Meanwhile, Petroleum Importers Limited General Manager Martin Msimuko has said it is importing 85% of its capacity due to foreign exchange scarcity in Malawi. Speaking to the local media, Msimuko said the company is struggling to source US$22 million which is required to import fuel per month<\/p>\n

Commenting on the shortage, business journalist King Jassi noted, in a Facebook post, that in June last year Malawi raked in about $100 million from exports and spent $225 million on imports but in June this year the country made $75 million while imports increased to about $280 million and this could explain why there is shortage of forex.<\/p>\n

\u201cThis simply means two things; the country\u2019s demand for imports is increasing while exports are not matching. It\u2019s like you are increasing your expenditure but not your income. Obviously, you start experiencing financial problems.<\/p>\n

\u201cActually, that\u2019s how the government is messing up this economy. The national budgets are not in line with the country\u2019s forex levels. Simple!<\/p>\n

\u201cThe fuel scarcity, failure to import fertilizer till now and the rising inflation will continue unless there is a bailout by some well-wisher,\u201d Jassi wrote on his Facebook.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. Fuel scarcity continues in Malawi as the Petroleum Importers Limited (PIL) says importation of the commodity has been affected by shortage of forex. Since yesterday morning, there have been long queues at filling stations across the country as many service stations did not have the commodity. Motorists complained that they are spending […]<\/p>\n","protected":false},"author":84,"featured_media":31077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,12],"tags":[233,371,4321,308,234,3037],"class_list":["post-31078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-policy","tag-africa-press","tag-africa-press-malawi","tag-forex","tag-fuel","tag-malawi","tag-petroleum-importers-limited"],"yoast_head":"\nForex crisis hits fuel imports in Malawi - Malawi<\/title>\n<meta name=\"description\" content=\"Fuel scarcity continues in Malawi as the Petroleum Importers Limited (PIL) says importation of the commodity has been af ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Forex crisis hits fuel imports in Malawi\" \/>\n<meta property=\"og:description\" content=\"Fuel scarcity continues in Malawi as the Petroleum Importers Limited (PIL) says importation of the commodity has been af ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi\" \/>\n<meta property=\"og:site_name\" content=\"Malawi\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-10T18:37:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-10T19:20:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_3-631ce360adca2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"749\" \/>\n\t<meta property=\"og:image:height\" content=\"270\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Forex crisis hits fuel imports in Malawi\",\"datePublished\":\"2022-09-10T18:37:11+00:00\",\"dateModified\":\"2022-09-10T19:20:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi\"},\"wordCount\":370,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/malawi\/sites\/36\/2022\/09\/postQueueImg_3-631ce360adca2.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Malawi\",\"forex\",\"Fuel\",\"Malawi\",\"Petroleum Importers Limited\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi\",\"url\":\"https:\/\/www.africa-press.net\/malawi\/all-news\/forex-crisis-hits-fuel-imports-in-malawi\",\"name\":\"Forex crisis hits fuel imports in Malawi - 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