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Africa Moyo Senior Business Reporter
Government has reached an agreement with Redan Petroleum that will see the company’s customers who had already bought coupons before the recent fuel price adjustment, receiving 20 litres for each coupon of the same value they hold.

Further, all customers that had redeemed 8 litres on their 20 litre coupons, have been advised to contact Redan for a solution.

Redan buckled from its earlier position after marathon meetings with Government over an amicable solution.

On Tuesday, Redan held meetings with officials from the ministries of Finance and Economic Development, and Energy and Power Development in frantic efforts to find a lasting solution that benefits customers and the company.

Government agreed to waive duty increased on fuel coupons and cards issued before the January 12 fuel price increase, which left a litre of petrol on US$1,34 for tourists and embassy officials, and $3,31 for the rest of the population.

Diesel went up to $3,11.

In a statement on Tuesday, the petroleum company said: “Redan is pleased to advise our valued customers that our discussions with the Government and relevant authorities, concerning the impact of recent fuel excise duty increase on coupon volumes, have resulted in a favourable resolution.

“The Government has kindly agreed to waiver (sic) the duty increased on all fuel coupons and card issues before 12th January 2019. This means that from 2pm, 29 January 2019, all coupons and cards issued before 12th January 2019 can be redeemed at full litre volume within the next 90 days.”

Zimbabwe Energy Regulatory Authority (Zera) acting chief executive officer Eddington Mazambani, told The Herald Business that an agreement had been thrashed between Government and Redan, which will see customers that had coupons by January 12, 2019, getting a fresh dispensation.

Asked if it was true that a settlement has been reached, Mr Mazambani said: “That position is correct. They (Redan) have come to an agreement with Government on how to deal with coupons they had up to midnight of January 12.”

Redan said it is now updating its systems to allow customers to be able to redeem the coupons and cards for which the waiver applies.

“We are also working on a solution for our customers who had already redeemed their coupons and cards at the debased value.

“If you have been affected by this, please contact us at [email protected] or telephone +2638677001200 for assistance,” said Redan.

The company said it continue to provide its customers with regular updates when they arise.

Redan saluted its customers for bearing with the company while a solution was being crafted.

Norton House of Assembly member, Temba Mliswa, took to micro-blogging site Twitter to raise concern over the debasing of coupons’ value, while others protested the move on other social media platforms and mainstream media.

Said Redan: “ . . . we would like to also thank the Government and relevant authorities for working with us to provide our customers with a positive resolution.”