WINDHOEK: The Ministry of Mines and Energy has announced that the moratorium on issuing wholesale petroleum licences will be lifted on Friday.

The moratorium was put in place on 15 August 2022 to allow the ministry to improve its licensing system and process, the ministry said in a statement on Wednesday.

At that time, the ministry expressed concern that both the wholesale and retail markets were highly saturated with licences.

The ministry observed at the time that the situation has created problems that ultimately led to high fuel prices in the country.

As a result, the ministry instituted a nationwide ban on applications for new fuel retail sites and wholesale permits.

Despite lifting the ban on wholesale petroleum licences, the ministry stated that the moratorium on issuing retail licences remains in place.

‘The moratorium on issuing new retail licences continues to be in place. This is because there is evidence that the average demand for fuel has not increased, suggesting that issuing new retail l
icences will negatively affect the viability of existing retail outlets,’ the ministry explained.

‘The ministry will continue to assess the fuel retail market with the view to review the moratorium on retail licences.’

Source :The Namibia News Agency