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Fuel prices in Namibia to stay unchanged
(MENAFN) Fuel prices in Namibia will preserve their stability this month, as announced Namibian Minister of Mines and Energy Tom Alweendo.
Minister Alweendo further revealed that the Namibian government is planning to subsidize possible expenses along with guaranteeing the stability of fuel prices amid global political tensions.
According to the minister, "the National Energy Fund (NEF) would absorb the over-recoveries in order to strengthen its financial capacity to subsidize possible under-recoveries in the month ahead...Based on the aforementioned reason, the Ministry will thus keep fuel pump price for the month of July 2019 unchanged countrywide."
Alweendo further added that the deteriorating condition of the Namibian dollar will not substantially hike the expenses of importing fuel.
Minister Alweendo further revealed that the Namibian government is planning to subsidize possible expenses along with guaranteeing the stability of fuel prices amid global political tensions.
According to the minister, "the National Energy Fund (NEF) would absorb the over-recoveries in order to strengthen its financial capacity to subsidize possible under-recoveries in the month ahead...Based on the aforementioned reason, the Ministry will thus keep fuel pump price for the month of July 2019 unchanged countrywide."
Alweendo further added that the deteriorating condition of the Namibian dollar will not substantially hike the expenses of importing fuel.
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