PPPRA issues fuel allocation for Q4 despite payment concerns

The Petroleum Products Pricing Regulatory Agency (PPPRA) has issued allocations for imports of some 1.8 million tonnes of petrol for the fourth quarter, despite concerns over the federal government’s ability to pay for outstanding subsidy payments, Reuters reports.

The provisional figure, issued individually to companies this week, is on par with the final tally the PPPRA issued for the third quarter.

But traders said only 50-60 percent of those allocations were filled as companies struggled to access the financing they need due to the delayed subsidy payments.