UPND HAS NO REGARD FOR WELFARE OF ZAMBIANS – MWENDA
OPPOSITION Leader, Kasonde Mwenda, has described the recent decision by the Energy Regulation Board-ERB to hike fuel prices as a clear display of the ruling party’s disregard for the economic welfare of Zambians.
The Economic Freedom Fighters of Zambia-EFF President notes that the monthly review of fuel prices arising from removal of subsidies is part of the conditions imposed by the International Monetary Fund-IMF.
Kasonde has predicted an inflation explosion resulting from the rise in petroleum products, hence trigger a chain reaction, leading to increased transportation costs and essential goods.
He also sees a situation were businesses will be crushed as a result of exorbitant petroleum prices, leading to job cuts and reduction in investment.
Kasonde adds that the surge in fuel prices will drain the wallets of ordinary Zambians, leaving no room for disposable income to be spent on other crucial goods and services.
He also fears that Zambia’s economy which is import dependent owing to lack of manufacturing entities will bear the brunt of the escalated fuel prices.
Kasonde further states that Zambia’s export competitiveness will be undermined as the cost of production will increase.
ERB Chairperson, Reynolds Bowa, announced that Petrol will sale at K25.57 per litre from K24.93 while Diesel is now at K23.36 per litre from K21.87 per litre.
Kerosene has been increased and will now fetch at K20.44 per litre from K18.53 for the month of August.
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