OMCs SAY MONTHLY FUEL PUMP PRICE REVIEWS BENEFICIAL TO ZAMBIA
By Michael Kaluba
The Oil Marketing Companies Association-OMCAZ- claims that Zambia has benefited from the monthly price review of fuel pump pricing and is opposed to persistent calls from stakeholders to revert to the quarterly or biannual reviews.
Association President Dr. Kafula Mubanga says the monthly review format is generally accepted by most stakeholders currently, especially given that the government is resolute about following this path while taking into account pricing variations, and exchange rate fluctuations, among other things.
According to Dr. Mubanga, stakeholders must examine the benefits and drawbacks of both price review models while taking into account factors such as the price of the product on the global market, exchange rates, and profit margins for OMCs, among others.
The OMCs president explains that the monthly review system has visible trickle-down effects as there are market gains while the burden on the government is lessened and that the debt resulting from the subsidies is transparently removed.
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