Energy PS assures OMCs on $800m debt
Published On April 17, 2024 » 514 Views» By Times Reporter » Business, Stories
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THE Government has assured Oil Marketing Companies (OMCs) that it will restructure and dismantle the over $800 million debt it owes, as the oil marketing body calls on members to remain patient.
Energy Permanent Secretary Peter Mumba said plans were underway to engage the treasury to deliberate on the best way the debt owed to OMCs could be restructured and subsequently dismantled.
Mr Mumba sympathised with the OMCs noting that they have waited for too long.
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