By NATION REPORTER
THE Oil Marketing Companies Association of Zambia (OMCAZ) says there is need for the government to extend the tax waiver on petroleum products following the continued price fluctuation of oil on the international market.
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Last year, Government extended the import tax waiver on petroleum projects.
OMCAZ president Kafula Mubanga said they are happy that Government heard the calls by stakeholders not to remove the tax waiver following the fluctuation of oil on the international market.
Mr. Mubanga said the removal of the tax waiver on fuel would have a negative impact as it will see an escalation on the prices of the commodity on the market.
He said maintaining the waver will continue spurring investor confidence in the energy sector.
Mr Mubanga said what is happening on the international market can affect the sector if there is no relief.
He said it is important that the government maintains the status quo until when the situation on the international market stabilises.
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