Melo News | Wednesday, May 8, 2024 | Lusaka
Opposition Leadership Movement Leader Dr. Richard Silumbe has expressed his disappointment with the government’s inaction in revising the monthly fuel pump pricing mechanism, despite President Hakainde Hichilema’s directive to do so eight months ago.
In October of the previous year, President Hichilema specifically instructed the Ministry of Energy Permanent Secretary Peter Mumba to reevaluate the existing pricing structure and introduce a more stable and business-friendly system, a task that remains unfulfilled nearly a year later.
Dr. Silumbe emphasized that the current method of adjusting fuel prices on a monthly basis according to international oil prices has had severe negative consequences on businesses, consumers, and the overall economic health of Zambia.
He pointed out that the unchanging fuel pricing system has led to increased transportation costs, higher production expenses, and elevated commodity prices, all of which have contributed to a rise in inflation and economic instability.
Dr. Silumbe argued that the government’s reluctance to adapt the pricing mechanism to reflect the current economic conditions is exacerbating the challenges faced by ordinary citizens and undermining Zambia’s ability to compete effectively in the global marketplace.
