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.
Saudi cheap fuel deal sealed
Kas Mat
Time is ticking.