29 oct namib times e-edition

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N$4

namib times

SERVING THE COASTAL COMMUNITY SINCE 1958 NO 6937 FRIDAY 29 OCTOBER 2021 Tel: +264 64 - 205854 / +264 64 - 461866 /Fax: +264 64 - 204813 / 064 - 461824 / Website: www.namibtimes.net

Massive fuel price increase The price of petrol is set for a 50c increase on Wednesday and diesel is set to increase by 70c per liter. The Ministry of Mines and Energy made the announcement yesterday and explained the increase is necessary as it still cost far more to bring fuel to the fuel pumps than what the consumer actually pays for it (underrecovery situation). Since the last fuel hike a month ago, the playing field has reshuffled on the international fuel market, states the Ministry. A recovery of the global economy increases the demand for processed fuels, hence a heightened demand for crude oil. The heightened demand pushed up international market prices for crude oil. This increase in the demand for crude oil is reflected in the price increases in the two global benchmark crude oils - Brent and West Texas Intermediary. Brent crude oil’s market price rose to the highest since October 2018 and West Texas increased to the highest since October 2014, states the Ministry in a media release. Simultaneous, the Namibian Dollar also weakened against the US Dollar. During September the Namibian Dollar averaged N$14,58 against the US Dollar and in October it averaged N$14,81. The weakening of the Namibian Dollar against the US Dollar fuels an under-recovery situation. Hence the need to subsidise it to enable affordability, to the consumer (fuel equilisation levy). The burden is carried by the National Energy Fund. A price increase will assist to lift the burden. During November the National Energy Fund has to subsidise petrol at N$1,32 per liter and diesel at N$1,54 per liter. The increase of 50c and 70c will reduce this burden. At Walvis Bay (where fuel is the cheapest in the country as it is the closest to the point of import) petrol will cost N$14,95 per liter and diesel N$14,88.

Bumper “food harvest” for World Food Day

Walvis Bay Crime Fighting Unit cleans up Meersig...

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The community of Utuseb on the banks of the Kuiseb River was the beneficiary on 16 October this year of a harvest of food items, donated to them during the celebration of World Food Day. This annual event unifies 150 countries yearly to highlight their ongoing efforts to eradicate hunger, malnutrition and poverty. This year's event took place under the theme: “Our Actions, our Future, Better Production, Better Nutrition, a Better environment and a Better Life”. The event was attended by the Deputy Minister of Agriculture, Water and Land Reform Honorable Anna Shiweda as the guest of honour. Other dignitaries included the Acting Chief of the Topnaar Traditional Authority, Anamab Stoffel as well as the Governor of Erongo, Neville André, the then Regional Council Chairperson Ciske Smith-Howard as well as Regional Councillors Deriou Benson and Florian Donatus.

Mining equipment transported to Husab Walvis Bay Plant & Tool Hire has commenced with the transport of 20 SANYI sub-assembled dump trucks between the port of Walvis Bay and Husab Mine. The first three were delivered to the mine by abnormal load yesterday. The remaining seventeen are scheduled for delivery in the weeks to come. Other mining vehicles to be delivered to Husab are: two 50-tons SANYI excavators, 4 CAT excavators which will first assembled at Barloworld before delivery, seven drill rigs, three front-end loaders and three bulldozers.

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“A second consignment of mining equipment to be landed in Walvis Bay towards the close of 2021”

Court Report Inside Page 4

School News

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Sports News Page 16


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