President Hakainde Hichilema has directed the Energy Regulation Board (ERB) in collaboration with relevant law enforcement agencies, to immediately investigate the hoarding of fuel, by certain entities and enforce existing laws, which may include revocation of licenses against those found wanting.

President Hichilema has expressed grave concern over the fuel shortage reported across the country in recent days, which is suspected to have arisen from deliberate hoarding by certain entities, hence directing the government agencies to follow-up on the matter.

The President is disheartened that the situation has persisted, regardless of the clear assurances provided by Oil Marketing Companies (OMCs), during his recent meeting at State House, regarding the availability of the commodity.

He has explained that while cognisant of prevailing global supply pressures arising from the conflict in the Middle East, the nation currently has adequate fuel stock to meet domestic demand.

The President added that fuel remains the lifeblood of Zambia’s economy, and any attempts to manipulate its supply is not only irresponsible, but also constitute economic sabotage and a direct violation of existing laws.

This is according to a statement made available to ZANIS by Chief Communications Specialist at State House Clayson Hamasaka.