LUSAKA, March 17 (Xinhua) -- Zambian President Hakainde Hichilema on Tuesday called for proactive measures to cushion the country's fuel sector against the impact of escalating conflict in the Middle East.
Speaking during an urgent meeting with members of the National Oil Marketing Association at State House in Lusaka, the Zambian capital, Hichilema said the conflict, triggered by military attacks on Iran by the United States and Israel, poses growing uncertainty to the country's energy security.
"This challenge is not small. We do not know how long this war will last, so we need immediate solutions as well as longer-term strategies," he said.
The meeting brought together the government and companies involved in the supply of petroleum products amid mounting uncertainty in the global fuel market.
Hichilema said the tensions come at a time when the government is seeking to consolidate economic gains made over the past four years, making it necessary for all stakeholders to work together.
He said the government was ready to work with industry players to reduce the negative effects of the crisis on the country's fuel security.
The president also expressed concern over reports that some oil marketing companies were hoarding fuel and creating artificial shortages in anticipation of possible increases in pump prices.
He warned that such practices amounted to sabotage and questioned why some filling stations were running dry despite sufficient fuel stocks being held in storage facilities.
Meanwhile, Pinchi Simukwai, vice president of the National Oil Marketing Association, said that companies are committed to maintaining stable fuel supplies and working with the government to keep the economy running smoothly.
He said the evolving conflict in the Middle East continued to put pressure on global markets, with rising freight and insurance costs pushing up operational expenses. ■