WINDHOEK, July 2 — Namibian Minister of Mines and Energy Tom Alweendo on Monday assured Namibians that pump fuel price will remain stable in the month of July.
In a statement, Alweendo said the government will subsidize the potential costs and ensure that the fuel prices are unchanged despite international political tensions.
“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,” said Alweendo.
He noted the weakening of the Namibian dollar will not substantially escalate the cost of importing fuel to the country’s shores into under-recoveries. – XINHUA