We can’t use reserves on fuel right now, we are doing better than other countries – Nalumango
VICE President Mutale Nalumango says government has no intention of using part of the US$6.5 billion foreign reserves to cushion fuel costs at the moment, arguing that Zambia is doing better than other countries in managing fuel prices.
Nalumango was responding to a question in the National Assembly by Member of Parliament Getrude Imenda, who wanted to know whether government could use part of the reserves to cushion the cost of fuel.
The Vice President said foreign reserves were a necessary national resource which should not be used anyhow.
She added that government had done much to cushion the impact of rising fuel prices and that its efforts should not be taken lightly.
“Fuel prices are high, we agree, but we have to remember that the cost of fuel is not compared to other regions within the region. Even coastal countries have higher fuel prices. We are actually far much better. Let us not bemoan,” she said.
“When you go to other parts of the country, our neighbours are fuelling in our country. Whether we like it or not, Government has done so much to hold the escalating cost of fuel. Government has not been keeping the reserves while watching our people suffer.
“The reserves are a necessity, colleagues. The more we grow them, the more secure we are. It’s a security resource that you don’t use.”
Nalumango said government was also using the national budget and various social protection programmes to help stabilise the cost of living.
She cited the removal of some duties, free education, social cash transfers, the Farmer Input Support Programme (FISP) and Cash for Work as measures aimed at cushioning the cost of living.
“Government let go of an income through duty, that is the same as a reserve. For now, government has no intention to use the reserves. Gvernment is doing a lot in trying to stabilise the cost of living. The budget is a social protection budget. Free education, social cash transfer, FISP are all about cushioning the cost of living. Cash for Work is another one. So why should we go to the reserves?” she asked.
“The budget takes care of the cost of living. We can’t get reserves for fuel.”
Kalemba, October 30, 2026