Emarat's petrol supply problems may be at an end

Fuel retailer will now be allowed to borrow more money.
A solution to Emarat's cash flow problems may be on hand.
A solution to Emarat's cash flow problems may be on hand.

Share

The UAE federal government has increased the capital of Emarat to AED 9 billion (US $2.5 billion), allowing to it borrow more money from banks.

Emarat is allowed to borrow up to 50% of its capital value.

The increase in capital will allow Emarat to borrow more money to buy petrol, which it sells to customers at subsidised rates.

Emarat, along with Enoc and Eppco, has had problems paying suppliers, causing its petrol pumps to run dry in recent months.

Most Popular