KALYALYA

INCREASE FUEL, ELECTRICITY TARIFFS, BOZ GOVERNOR

Fuel prices, electricity tariffs need to be increased to avert future challenges – BoZ

BANK of Zambia governor Dr Denny Kalyalya says there is need to have an administrative adjustment in fuel pump prices and electricity tariffs to avert future challenges in the sectors.

And Dr Kalyalya says the Bank of Zambia has raised the Monetary Policy Rate by 50 basis points from 8.50 to 9.0.

Meanwhile Dr Kalyalya says Zambia’s gross international reserves currently stood at US $2.9 billion.

14 COMMENTS

  1. We hv a problem in Zambia. Why do we pretend to tax petroleum products and electricity if government is also subsidising them? I’m unable to make sense of the economics at play here, or is it the politics?

  2. BOZ Governor, Explain in detail what is going on as regards Electricity and Fuel pending possible hikes before unpalatable sentiments can be unleashed on you and the New Dawn Government.

    I submit.

  3. We suffered fuel hikes at the hands of PF, now you are taking the same direction. wait for the shock of the day. you are playing with Zambians you guys. we shall flash you out without delay.You are now failing to think, these are the same things you condemned under Pf now you see them to be necessary? HH dont entertain such maneuvers coz they will de-campaign you.

  4. iN Every thing that HH promised to address are all false and he lied to us zambian that he was going to reduce prices of essential commodies but todate nothing is happening.Now fuel hikes and electricity
    NIPANO TULI

  5. We were told fuel is expensive bcoz of numerous middlemen, why not phase out those vampires before thinking of price increase ? Was it another mega lie ? On this one, we need someone we voted for to explain to us in detail, we won’t entertain sidekicks making such profound economic announcements.

  6. They promised heaven but are rewarding the 2.8M with Hell … So Bally is already getting Fixed by the problems he promised to fix.
    UPND must remember: Lonjezo inadulisa mutu wa Yohane!
    Is this the lowering of the cost of doing business that you promised?
    At this rate, 2026 will be too far.
    If these are the pre-conditions you are getting from IMF, you can as well shelve the IMF loan if you want a second term in office. At the rate UPND is going, it will only last One term in office. You seem to have become deaf already to the economic cries of the masses!

  7. That is nosense bwana do what you promised not that nosense. He was fired for not doing the right thing, yourself you decided to bring him back , see now were is trying to take us. No body we will much with mwanawasa.

  8. Zambians like complaining without considering the world oil prices . Did you expect fuel prices to remain the same after pf messed up the situation? The pf government was advised to reduce the prices of fuel during the time World Crude oil prices fell to below $25/barrel during the Covid era. Botswana and South Africa reduced the fuel of petrol several times.However, the pf maintained the high prices but now the world economy is recovering and definitely the world crude oil prices are rising sharply.Currently they are trading around $78 to $82/ barrel.Do you expect prices to remain the same? Is the New deal government responsible for the price fluctuations on the world market? No!

  9. Zambians are just lazy and like freebies.

    Find out how much fuel is costing in the region and globally, and you will see that Zambian fuel prices are very low. This government should promote electric vehicles now.

    On electricity, we can address this to keep prices lower. This is the challenge for this government.

  10. GIVE THEM FREE EDUCATION FROM GRADE ONE TO 12, EXCLUDE BOARDING SCHOOLS, AND THE CATCH IS, RECOVER THAT MONEY THRU INCREASED ELECTRICITY TARIFFS AND FURL PRICE…KWAPWA. SIMPLE ECONOMICS. WE TRY TO IMPRESS BOTH PARTIES, THE CITIZENS AND IMF. BUT FOR THE CITIZENS, WE DO THEM A ONE ZERO, GIVE AND TAKE BACK. BUT BE CAREFUL, WE HAVE BEEN ON THIS ROAD BEFORE. THE ZAMBIAN OF YESTERYEAR IS NOT THE ZAMBIAN OF TODAY. THEY KNOW WHAT THEY WANT FROM ANYONE THEY VOTE FOR…..KWAPWA. by the way sir, we know your salary is over K100,000 per month and maybe you get free fuel and paid for electricity bill and so it is easy for you people to not care about the implications of these increments.

  11. This UPND down government must come clean on the dirty IMF deal. We as citizens want to be clear on the preconditions IMF is prescribing. It will be political suicide for UPND to think Zambians can accept another SAP!
    Magufuli paid off all the loans without borrowing a Cent.
    Kalyalya must be fired again. Let us have a BOZ Governor who is not a Puppet of IMF! There is enough money in Zambia BOZ can mobilize to pay off debt! You just need to float Government Bonds and problem solved!
    Stop practicing textbook Economics! It’s irrelevant to our situation. I’m even persuaded to believe Mvunga was a lot better!

  12. Yes fuel prices need to be increased because world oil prices have risen but at the same time GRZ needs to minimize this increment by reducing all types of duties and taxes charged on fuel and electricity as well as to ensure that they lower the exchange rate because fuel is 100% imported and once the dollar goes up so will fuel price.¹

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