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Alba Iulia
Wednesday, November 25, 2020

Government tasks ERB to review the fuel pricing system

Economy Government tasks ERB to review the fuel pricing system

 Government  has  asked the Energy Regulation Board  (ERB) to review the fuel pricing framework  in the country.

Energy and Water Development Minister Kenneth Konga  said the nation would be
informed on the outcome of the review  next month.

ZANIS  reports that the Minister disclosed  in a ministrial statement  presented in
the house today,  on the fuel supply situation in the country.

He said it is essential that the energy sector plays its strategic roles in
streering the economy to prosperity as the country strives to reduce poverty and
promote economic growth.

He said  government recently  dissolved the ERB and Zambia Electricity Supply
Corporation (ZESCO) boards   in order to improve their operations.

He said it is important that these key institutions are able to meet the challenges
of the energy sector by being proactive and innovative.

The Minister stated that critical issues need to be considered in reconstituting
the ERB boards.

The minister pointed out that the board members should have a comprehensive
understanding of the national energy policy and should be able to effectively
implement it.

Mr Konga added that board members should ensure compliance to the rules and
regulation that govern the energy sector.

And government has revealed that it had of January this year owed three pensions
fund a total of K210 .5 billion.

Those owed include the Public Service Pension Fund K159 billion, Local Authorities
Supernnuation Fund k29.8 billion and National Pension Scheme Authority K21.5
billion.

Finance and National Planning deputy Minister Jonas Shakafuswa  said government
intends to reduce the debt hence the allocation of K154 billion in this year’s
budget.

He wsa responding to Lukulu East United Libral Party (ULP) Batuke Imenda who wanted
to know how much government was owing the three pension funds as of 31st January
this year.

Mr. Shakafuswa said  government had no plans to privatise the pension schemes but
will instead promote the comprehensive social systems for both the formal and
informal sectors.

Meanwhile,  Works and Supply Deputy Minister Benny Tetamashimba says a total of
K674.8 million was realised from the sale of  machinery at Esco Limited .

Mr. Tetamashimba said  the machinery and other propertes were disposed off through
tender and auction sale.

He said the Zambia Development Agency (ZDA) advertised for the sale of the premises
whose  bids closed on June 30 last month.

He said government decided to sell the premises to a corsortium after realising
that it was not registered with the registrar of companies.

Mr Tetamashimba said government has not removed the tenants from the premises that
were paying rentals after they lost the case in court.

He however stated that government  has made it clear that the company that would win
the tender to purchase the premise should take  into consideration the tenants.

He was responding to UPND MP Brian Ntundu who wanted to know  how the machinery at ESCO Limited in Lusaka was disposed off.

2 COMMENTS

  1. The price of gas in Zed is too high. This is causing a trickrl down effect in the prices of all basic commodities. Indeni has not been used in a viable way but in a selfish manner by govt.Please do something Bwana Minister. All you talk about is increase the prices.

  2. “Proactive” and “innovative” are barely what comes to mind when I think of ERB. Through the previous years, we get an immediate price increase as soon as the Kwacha falls against the dollar. This has on numerous occasions been quoted as the “one most important factor” for the increases. During the past couple of months, the Kwacha has been progressively gaining – almost ZMK300.00 has been gained. My issue is, why doesn’t the hiccup work the same backwards? And when you are spending upwards of ZMK400,000.00 a week on gas alone, let alone spares by driving on these poor roads, you wonder why upwards of 30% of the price of fuel is to pay tax. Where does this tax money go? Surely they do not repair roads. And if I go over a very poorly constructed hump that damages my bumper, who do I have to sue for repairs?

Comments are closed.

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