HOW BANKS FUEL SAVING TIPS PERCEIVE THEFOR MOTORISTSOIL INDUSTRY OIL
Fuel consumers can build a cost reduction culture Banks want fuel to be just one of the products at a filling Station-They want significant diversification of product range and services.
MostMotorists in almost all non-oil producing people do countries not complain look at of the cost of Banks fuel. Not as financ- many years ago, ing massive partners. They and protracted perceive Banks protests as be- ing erupted only in interested Iran and in Nigeria depos- its after and government very reluctant reduced to give loans massive and fuel essentially subsidies not in- terested which consumers in pushing had the finan- been cial enjoying inclusion for a long Government time. Agenda. The cost If of a subsidies, survey was to be which conducted had become on public per- ception unsustainable, of Banks ranged by the in gen-
billions of United States
eral public, am not sure, the
Dollars. Maintaining subsidies
majority will give favourable
on energy is very costly
feedback.
and comes at the expense
However, Bankers have their
of depriving development
own story to give. Banks have
in other segments of the
supported the oil industry in
economy.
Zambia for a very long time
In Zambia, Government
and remain committed to
abolished unhealthy fuel
continuing supporting the life
subsidies a while ago. This
blood of the economy-energy
implies that consumers have
sector.
to pay the correct price of fuel. In April, 2011, I interviewed the With then the CEO crude of the oil price Bankers Association on the international of Zambia, market Mr. David expected Chewe to continue regarding pub- lic increasing perception and the and exchange the role of rate the not Banks so favourable in promoting in a the COVID-19 growth era, of it the may Petroleum become Industry. unsustainable Below sooner is a flash than back of later the to interview maintain which a status still quo. re- main Unsustainability relevant today. may lead to
The different players in the petroleum industry must en- sure that they focus on areas where they have a competitive imperfections in the market space as it is advisable to pay a bit more and have it than not have it at all. When price suppression becomes unsustainable, quality can get compromised.
Some traders can fail to remain afloat. In case fuel prices Question get increased, I thought Sir, I get of sharing a feeling some that fuel most saving people tips do not which look could at assist banks motorists as financing to control partners the but cost. one just interested in their mon-
ey and Start swift your to car attack more them. efficiently-Do Is there anything not push you the intend accelerator to do to break when this you historically start a modern entrenched vehicle. public Back mindset in the to- days wards of your carburetted members? cars you had to push the pedal to floor once or twice Answer before driving away. There Today’s are various modern roles fuel that injected a bank plays engines in the do bank not - cus- need tomer this relationship practice. and Infact provid- you can start a car without even
ing finance is just one of those.
stepping on the accelerator
Some of the financing require-
pedal. I start my car without
ments from the entrepreneurs
stepping on the accelerator
cannot be met from commer-
pedal and it works.
cial banks whose major source
It will work for you and you save some fuel. It may look insignificant but you are losing money.
I had little regard for small money such as coins until my South African and West African friends changed my value system.
The importance of not taking small things lightly is further amplified by the late Mother Theresa who once said “we ourselves consider our actions as a drop in the ocean but we know that the ocean becomes smaller because of the missing drop.”
Tyre pressure-Many motorists do not know that there is a serious connection between tyre pressure and fuel consumption. What is even more worrying for me is that most motorists do not even know the recommended tyre pressure for their cars.
You are playing with money. You are playing with your life if you do not have regard for knowing the importance of tyre pressure.
The tyre pressure is written in your manual, on the tyre itself and somewhere on the door of your car.
Next time you go to the fuel station, ask a filling station assistant to show you where the pressure is written. It will only take a few seconds to know. Do not brush them off
when they offer to check your tyre pressure for free. They also check your oil and water level for free.
a radio program on ZNBC
Be grateful. Wrong tyre
Radio 2 where each week each pressure costs money just like
one the banks is featuring lack of enough oil or water
and highlighting the key prop- can make you cry very well
ositions for different market
It is not just about tyre
segments. pressure but also the design of Through the tyre itself targeted that is interac- crucial tions to fuel with consumption. different interest groups, Please BAZ do not has also forget demon- to strated check tyre its pressure commitment in your to- wards spare wheel strengthening once in a while. the banks’ This is relationships encouraged etiquette with their customers. for every motorist. Avoid tyres Through that increase this process, rolling it is hoped resistance. that This the will public cost would you also more appreciate fuel. some of the challenges In addition, banks pay face attention in serv- ings to the their expiry customers. dates of tyres. The We expiry also wish date of to tyres advise is the public written on that the BAZ tyre itself. is collabo- Road
rating with govt. through the Ministry of Commerce Trade & Industry in implementing the MSME Policy. Under this
Traffic Police are supposed to be checking expiry dates on tyres and arrest motorists driving vehicles with expired
agenda, one of the key mile-
tyres. They contribute to
stones we have recorded is
accidents. Road worthiness
to align the classification of
demands you to use tyres that
MSME between what govt.
are not expired.
was using and the various clas-
We have taken many things for sifications granted. in I will banks. engage We the now relevant have one authorities common on classifica- this.
tion of the MSME in the in-
dustry Avoid and at short govt. trips- level. Short trips As which the implementing do not allow for agen- the cies engine including temperature BAZ implement to get to some optimum of the level interventions are usually in not the MSME good at Plan, fuel consumption. we expect the Plan public your perception movements to improve very well. Be patient with yourself.
There is a Question Chinese saying which In conclusion, says, “Be patient is there with any- others. thing you But wish with yourself to say partic- be even ularly more about patient.” the petroleum Impulsive decisions industry in can Zambia be very from costly. the Bankers’ point of view?
The
Answer petroleum industry
is
The business of wanting to drive where you can walk and exercise must be thought through well. petroleum industry are operat-
ing these Avoid outlets contaminated while others have fuel- leased When them fuel out. prices
go Banks up, the are challenged temptation in cas- es for where criminal the activities business or entity wants unethical to secure behaviour 100% can funding as get this to does a zenith not order. demonstrate commitment Unethical fuel to suppliers the project can by the deliberately business mix entity/promoter fuel with
other compounds or supply and hence the encouragement
substandard fuel so as to for entrepreneurs to access
lure you with cheaper prices. venture capital funds, capital
They can also do it in order markets or equity from part-
to avoid tragic loses. This ners.
game takes place in many Financing of crude oil im-
countries. There are many portation is largely financed
motorists or transporters who through a combination of
just believe in buying stolen trade finance products and
fuel and oil. One day you generic products to address
will cry. Days are numbered. the cash flow differences in the
Contaminated fuel does production not give you and better distribution fuel processes. consumption. In addition, it
has Some a damaging of the distributors effect on own your engine. transport companies while You others may feel have ok for standing now agreements but down the with road your transport companies engine will and give banks up on are you. able to It offer is your solutions craving that for useless address the things financing that is requirements behind some of different of your troubles. parties in Lift the the value chain. standard Entrepreneurs and say no to must demonstrate stolen or contaminated that their busi- fuel. ness Buy proposals from reputable are bankable sources. through There the are business several plans fuel and once saving financed, tips. Take through time the to pe- riodic read through performance and put reporting them
into practice. I will share and monitoring of the credit
some more next week. facility.