The Petroleum Fund Collaborates with MDAs for the Greater Impact

In implementing the Petroleum Fund Corporate Plan for the 2024/25 Financial Year, the Acting CEO of Petroleum Fund, Adv. `Makananelo Kome led a team of officials to Mafeteng, Botha Bothe, and Quthing to build mutual collaborations with Ministries, Departments, and Authorities (MDAs).

The objective of the visits was to establish a mutually beneficial partnership with District Administrators and their District business compliance teams. Also, to identify areas of collaboration and agree on the mode of operation between the Fund and the existing specific MDAs, recognising the importance of their specialised functions in the petroleum industry.

Most significantly, the meetings considered issues pertaining to product price compliance and the acceptable Safety, Health, and Environmental (SHE) Standards pertinent to the industry at the district level.

The key takeaways from these meetings are that the three districts face the challenges of illegal trade of Petroleum products. Adv. Kome emphasised that illicit trade results in the loss of government tax revenues, property damage, and serious environmental risks. Further, it was reiterated that the fuel prices should be standard countrywide as the Fund subsidises transport differentials pursuant to its mandate of ensuring that Petroleum Products are accessible throughout the country.

 On the other hand, the DAs and the District Business Compliance Teams affirmed their commitment to support the Petroleum Fund initiatives to enforce compliance at the district levels.

Finally, the Petroleum Fund briefed the DAs about the projects underway within the petroleum sub-sector, namely, the Liquefied Petroleum Gas (LPG) Market Assessment and the future roll-out of the Mobile Filling Stations.

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