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SMVAF GETS INCREASE IN FUEL LEVY

By Qondile Ntiwane | 2019-08-19

The Sincemphetelo Motor Vehicle Accident Fund (SMVAF) got an increase in fuel levy as it recorded over E113 million in fuel levy in the 2018/2019 financial year.

This is contained in the financial statement presented by the company’s Chief Financial Officer (CFO) Martin Simelane at the MVA Boardroom on Friday.

Collected

The exact amount collected is E113 546 368 which shows an increase of E7 173 409 when compared to the E106 372 959 collected in 2018.

According to the financials, the analysis of fuel levies per oil fun in respect of fuel imported and sold in the country reflect a gross of E123 097 755 which saw it being less E 9 251 38 in respect of refunds to Eswatini Railway.

The financial report shows that the money was collected from six entities dealing with fuel in the country.

These include Engen Swaziland (Proprietary) Limited which contributed E19 408 515 while Galp Energia Swaziland upped their sales to E30 597 831 this year.

Puma Energy Swaziland contributed E25 661 325 while Swaziland Petroleum and Swazi Oil pumped in E13 248 and E41 230, respectively and Gas and oil industries ending the list with E760.

The company mentioned during the briefing on Friday that they would be signing a Memorandum of Understanding (MoU) with the Eswatini Revenue Authority (ERA) and the Ministry of Resources and Energy in a bid to enforce strict monitoring on the importation and sales of fuel levy in the country.

n Total Swaziland (Proprietary) Limited

n Galp Energia Swaziland (Proprietary) Limited

n Puma Energy Swaziland (Pty) Ltd

n Swaziland Petroleum

n Swazi Oil

n Gas and Oil Industries

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