Saudi cheap fuel deal sealed

MINISTER of Energy and Water Development Dora Siliya says the US$20-million supply of cheaply-priced fuel will reduce pressure on the treasury and help reduce the fuel pump price.
Ms Siliya told journalists at the Jeddah Conference Palace here yesterday that the five-year concessional financing deal with Saudi Fund for Development is timely because it comes at a time Zambia is grappling with challenges in the electricity and petroleum sectors.
“This is a first and extremely strategic visit to Saudi Arabia by President Lungu. As you are aware, Saudi Arabia has the largest oil reserves in the world,” Ms Siliya said.