FUEL PRICES EXPECTED TO GO UP
By Rhodah Mvula
As Government removes subsidies on fuel effective 1st October 2022, experts have predicted an increase in fuel pump prices.
Economic Expert, Kelvin Chisanga, says the decision to remove subsidies from fuel is a bold move which will help Zambia service its debt.
Mr. Chisanga notes that the subsidized social sector has impacted Zambia’s debt servicing, as a result it defaulted on its 17 billion dollars external debt.
And another Expert, Emmanuel Zulu, has predicted an upward adjustment of fuel prices but the effect will not be very wide depending on the international oil prices and demand.
Mr. Zulu however says the performance of the Kwacha against the dollar is key in maintaining prices of commodities.