Zimbabwe cuts import tax on petrol, diesel to reduce pump price

Date:

HARARE (Reuters) – Zimbabwe has cut its import tax on petrol and diesel by as much as 17 percent, the first time it has done so since it adopted the U.S. dollar in 2009, in a bid to lower the pump price for motorists, a government official said in a statement.

Thank you for reading this post, don't forget to subscribe!

Motorists in Zimbabwe pay more for petrol and diesel than most southern African nations. The price of petrol is $1.41 a litre while diesel costs $1.33.

Willard Manungo, the secretary for the Ministry of Finance said import duty for petrol was cut by 6.5 cents to 38.5 cents a litre and 7 cents to 33 cents for diesel with effect from midnight on Monday.

“This will also have the impact of reducing the impact of fuel costs in the economy’s overall production cost structures across all sectors,” Manungo said.

Reporting by MacDonald Dzirutwe, editing by Larry King

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

Thirteen Residents Arrested For Failing To Use Pedestrian Bridge in Lagos

March 28, 2024. Azonuchechi Chukwu. Thirteen residents in Lagos state have...

Dangote budgets N15bn for food intervention across Nigeria

March 28, 2024. Azonuchechi Chukwu The Aliko Dangote Foundation, (ADF) has...

Lagos Police Arrest Man For Allegedly Beating His Wife To Death

March 28, 2024. Azonuchechi Chukwu. The police in Lagos state have...

Access Holdings to pay N1.80 as final dividend to shareholder

March 28, 2024. Azonuchechi Chukwu. Access Holdings has revealed plans to...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading