The entire board of directors has resigned from the beleaguered state-owned National Oil Company of Zimbabwe (NOCZIM) because of alleged government interference in its operations, DPA reported. A statement on Thursday from the directors of NOCZIM said they were unable to do their jobs efficiently. Zimbabwe has been suffering from a shortage of petrol and diesel for more than a year because foreign currency reserves have run out. Motorists sometimes have to wait for more than 24 hours to get fuel. In the past week the situation has worsened and most fuel stations throughout the country have no supplies, DPA said. Short-term contracts have been arranged by a local bank, mostly through Libya, but these have usually been cancelled by the suppliers because of nonpayment. The latest contract for US $75 million from ABSA Bank of South Africa was aborted at the end of last week for the same reason.
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