The parliamentary committee on natural resources is recommending the review of energy laws to give National Oil Company of Malawi (NOCMA) 90 percent powers on oil importation.
Chairperson of the committee Welani Chilenga made the sentiments in Lilongwe after engaging the Malawi Energy Authority (MERA), the Ministry of transport and some players in the energy sector.
The development follows reports of monopoly by some private companies who do not have enough storage capacity to aid the country in times of emergencies.
In 2018, parliament, through the same committee recommended a 50-50 share of oil importation between NOCMA and other private traders
However, according to Chilenga, NOCMA has proved to be efficient and effective in times of dire need of oil at the expense of other importers.
“NOCMA has performed very well since the time of cyclone Idai, Covid19 as well as when the country’s truck drivers a stage a sit in which would have crippled the country’s operations,” Chilenga said.
Meanwhile, the committee has also recommended that NOCMA should also be involved in the sale of oil as opposed to just importing and staring.
It is expected that the committee will submit its report to parliament in the next sitting for adoption so that the process of reviewing the energy laws be initiated.