Government has projected price reduction end of 2008 following the procurement 90 metric litre at the cost of US $ 53 million.
And government says it has embarked on a construction and rehabilitation of two (2) million litre-storage infrastructure for petroleum strategic reserves in each provincial centre across the country through a tendering process.
Presenting his his ministrial statement in Parliament , Thursday, Energy and Water Development Minister Kenneth Konga said the projected low fuel prices will also be due to next month’s favourable exchange rate he hoped would be favourable.
He said prices of oil on the world market have reduced from US$140 to US$60 or less per barrel.
He said government has envisaged a subsidizing mechanism that would be administered by the National Union Pricing Programme (NUPP) under the National Energy Policy where fuel would be sold at par (same) in both rural and urban areas.
Mr. Konga disclosed that the construction and other rehabilitation works at Chipata, Mongu, Mansa and Livingstone depots were expected to be completed in February, 2009.
Mr. Konga revealed that government has signed a 2-year contract with an International Finance Company to supply crude oil 30 to 45 days in advance as it has learnt lessons in the past where the country was plunged in fuel crisis.
The Minister said at Indeni in Ndola, government has bought a US$2 million 40 metric litre depot for diesel but was quick to point out that the government has put in place measures to curb the possible shortages that rocked the country in the recent months.
He explained that variation in fuel market prices were done on detects of demand and supply and that lack of adequate bulk fuel storage depots were a limiting factor.
And on electricity, the Energy Minister said load shedding will continue because of the shut transmission line that collapsed at one of the major power stations.
Mr. Konga said government working with ZESCO is rehabilitating the generators so that they normalise soon.
He added that construction of smaller power stations from across the country has started at Kalungwishi at cost of US$780 million to produce 210 Mega watts (MW); Itehzi-tehzi 120MW (US$270m); Kabompo 34MW (US480m) Kariba North Bank Power Extension project 360MW (US$312m) and Kafue Gorge Lower Station 750MW to cost close to US$2 billion respectively.
ZANIS/KC/ENDS/MM
# shani
Congrats boyi Matworld…Ok nine namala 2.
Thanks boyi Chale hope tabandile umulilo,since no ci comment.
That will be great Mr Konga,ulupwa back home lwacula pafula.
You have to comment guys. Ok let me start. The reduction is welcome and I just hope other products on the market will respond in the same when they price goes up.
Baby C,i like you!
seven
Awe Chewe you deserve her pantu kale wambile ukulanda ifyo.Just have to be careful Ba mwinemushi bacifulwa.Ati this is not a dating site.
Those of you who dont know,This kenneth konga is 1 of the richest ministers. And he was not as rich as he is before he became minister. He even fail to breath properly because of to much fats in the boady.It is just common sense that fuel has to be reduced further,because of the low price of the commodity on the internationa market.Why is he potraying it like the government should get the credit.putting up those reserves,its your duty as government make sure there is enough in reserves.On energy Konga dont even talk about it,you have terribly failed.Today,i didnt even have my breakfast before going for work because of loadsheding.Nonsense!
‘Government has projected price reduction end of 2008 following the procurement 90 metric litre at the cost of US $ 53 million.’
Why only project? We need the reduction and that is all.
Ba Chewe if you want to concentrate on personalities then the comments on this issue will be derailed. Its true there is suffering pa zed but if we keep on pointing fingers ninshi chalashupa. Remember…”when you fall dont try to establish how you fell but where you slipped”
Yeah… And what about our own oil in Chavuma? Remember you told during your campaign that investors where already in the country biding for exploration rights?
so A Zulu you also remember what your brother told us about the investor for the oil in Chavuma? that’s great coz i didnt want you pipo from mbeba province to think that ababemba ma jelous.
Baby C is very sharp.
Good investment..
# 10,Ba maestro epo mwaba.Nkoli musa?ina kayi kutambauli mazuba ano? leza atugwashe basa mapenzi yaindilila muchisi chesu!
Baby C
Walawala Mwaana abaama- throw throw child of my mother.
#17 Chewe iam now scared and worried,you will dream her when you sleep.Anyway its good for you bro.VIVA chewe!
I really doubt the reduction is due to this project. The price of oil is now USD 50 per barrel, however, fuel prices are very volatile, that is why the man is using the term “projected” to cover himself. However, the Minister is not taking into account additional costs that may come as a result of the Somalia Pirates who are causing havoc in the Gulf of Aden if our main supply is the Middle East. Insurance and other voyage costs are now the highest in the history of commercial sea voyage. Explore matters well Mr Minister before issuing these political statements.
#19,Matworld,you have made me laugh ooh.
Baby C
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16. your flag Chewe, oponaba? Shani ifintu pa-States? Lisukulu nalikosa, ifi amazii yankonkapo. Anyway, I follow threads bit-by-bit.
Amupone cibotu basa. Aakale, then.
ama predictions ya bufi
its simple economics, there is nothing about predictions, its rather calculations.
Hello everyone
here where i am fuel prices have reduced dramatically. I wonder why pa Zed, they are still projecting reductions. Let them act now. Forget about the old stocks bought when prices were high, that is how business is, sometimes you gain at times u lose. Zed please follow the market trends and bring down fuel to below K5000/l for petrol. Where I am petrol is now equivalent of K3,200/l.
Tujokela kwesu ku Zed, amululamike zyintu ooko twakomba basa.
#
25. your flag Pumpy, hey Pumpy longest time. How do you do? Any suggestions on who the PF must field for President in 2011 seeing that the Undereducated will most likely not be allowed by the Constitution which the NCC is working on since a clause of education will probably be included in terms in minimum qualification for Zambian President being Grade 12 or equivalent.
Nice reading from you!
#27 I think we should move from th era of recycling these old folks ka. As for PF i feel Given would do for 2011 but the issue of tribalism will come in and you will be shocked that it will not be the bembas that will reject him but his fellow Lozis because as far as they are concerned , he has aligned himself with a bemba which is a ‘taboo’ in kwabulozi. So if there is no seriuor plans for an opposition coalition, its NYAMA SOYA for life mudala
Baby C i like you!
Can someone please help me understand these 2 things that continue to boggle my mind:
1. Why is it that when oil prices go up, ERB announces fuel price increases with 24hours, and when fuel prices go down, ERB keeps quiet and govt hoodwinks pipo by saying they are ‘thinking’ of making price reductions. Why exactly does ERB do and whose interests do they save?
2. Why has the post continued to act as sata’s mouth piece? Did I miss the ceremony at which mmembe was ordained sata’s publicity chairman? Someone needs to provide the checks and balances in the face of a highly biased govt media; why has the post abandoned that role in favour of speaking only for sata. Is PF bankrolling the post?
ala baby c ,wakwi?
# 30,Sarah,the post are not doing anything wrong here.They are in bussines,in marketing we like the word appeal. So for the print media like the post,the headline must appeal to the mind of a customer,if they are to make sales. Now,people like Sata are crowd pullers just like you saw during the campagns.He had huge rallies, he is very influencial.Even the sales of the post were doubled. So Sata,when he says something everyone wil want to read that. Simple marketing principles here. I like you Sara!
Baby C where are you.
#30, to answer your questions:
1. Pure and simple human greed. People will always try to maximise profits starting from individuals running a simple grocery store to multi-billion dollar firms, this holds true. ERB is a toothless, useless entity i this scheme of things and the only interests they serve is their pockets and bellies.
2. I have not read the Post today but have seen the headline. To be fair, Sata is a newsmaker & what ever he says now will be deemed news-worthy, seeing that almost 40% of people voted for him…so is RB and HH by the way and the Post has covered these as well, but can the same be said about the Times and Daily? Its all RB, RB..now who is biased?
#30,Sarah,on ERB the first quetion. So many crooks are involved,so many are benefiting.This government is full of crooks.
#30, besides about 80% of literate voters read the Post and those overwhelmingly voted for Sata and like Chewe says, they sell more copies with Sata on the front page than with RB picking his nose (see wednesdays). Strictly business.
How are you Ba Chewe bakalamba please go to sleep twapapata you need some rest,who knows kuti mwakalota ka baby C though you have not seen her,I dont know how possible it is!anyway nangu mwalotakofye Voice that will do you good ze biggy.
LT WHERE IS MY CONTRIBUTION PLIZ
I SAY REDUCE THE FUEL PRICES NOW OR ELSE! YOU ARE FAST IN INCREASING BUT SLOW IN REDUCING.JUST LYK YOU ARE SLOW IN THINKING HA HA HA HA HA HA !
#1 na #2 muli masaka sana
Every nation is reducing fuel prices, i dont see why the Zambian Govt should make a big deal about it.
iwe Chewe please baby C is a homo. Akonda yaku mbuyo. A you ready…..
and please leave Kongas $$$ alone. Some pipo in Zed have more money than him. Others have trillions $$$, some Billions$$$, others Thousands$$$, Hundreds$$, or nothing$$$ zero zero. Wealth is relative.
No. 41 Don’t you know these guys? They like to take credit for other people achievements. I don’t even see why they should get such hefty salaries financed by the poor tax payer.
Like him or hate him, Sata is simply amazing! R.B and Co.may be educated but I donot think we are on the right track economically!
Poor Finishing, your comments befits your name. How could you insunuate that Lozizs are tribalists. Am not Lozi myself but I can only say that they are the ones who vote behond tribal lines. Banda is not lOZI he got 100% in Western Province. Loziz analyse issues beyond tribal lines. Sata can never win in western province not because of his tribe but because of his uncouth behaviuor. Lubinda is guilty by association but if he joins another party, he gets voted not because he is lozi but because he has potential. Bemba lets stop promoting tribalist.
Can some one please tell me which other tribe bembas have ever voted for apart from their tribal’s men. They even cost us Mazoka in 2001 as CB rejected him. Now they are forcing the uneducate, foul mouthed and no mannered Sata on us simple because he is bemba. Thank God Lubinda is seeing sense and slowly disassociating himself from these tribalists. Am told he is forced to speak bemba in their meetings becoz thats they language for the pipo. Zambia belongs to all 72 tribes. Bembas get a life!.
A 33 YEAR OLD ZAMBIAN WOMAN HAS BEEN ARRESTED AT CAPE TOWN AIRPORT ON HER WAY FROM SOUTH AMERICA FOR DRUG TRAFFICKING. SHE WAS FOUND WITH DRUGS HIDDEN IN HER PRIVATE PARTS. WHAT A SHAME? ANY WAY WHAT DO YOU EXPECT FORM ZAMBIANS IF THE CHIEF DRUG DEALER IS BACK IN GOVT
The price of brent crude oil this morning was $ 46.00 a barrel,it is only logical that the price of fuel should be reduced by almost half. i wonder if that will be implemented in Zambia. The south African Govt is to reduce the fuel price to almost 80 cent per litre
Today’s polititians just talk and nothing happens. There is no present tense in Zambia today to say Govt today has done ABC. There is only furture tense.
Bloggers i have really enjoyed my time with you students and Men, its been a pleasure and now my time is up i my leave and holiday are over.Zambia is a good country and i have comfidence in our leaders thats why i always go back to Zambia every christmas and during elections.My freind Chewe dont hate rich people they are the employers all around the world. Society will always have the week and the strong.If you cant stand it being amoung the weak go to school and spend more time with the rich at the Golf club you will learn one or two things.poverty just like wealth is contegeous spend time with the poor You get poor.These are sad facts indeed, as jesus said the poor will always be with us
#47 firstly youre off topic and i can bet that your thinking is myopic.
The energy sector has failed under your leadership.Look at frequent powercuts, nothing tangible has been done to address the situation. Now fuel prices are skyrocketting despite low world market price. Just what has gone wrong with you MMD governmen? We have been cheated for too long.
If RB is to save the last that is left of him he betteer efect the reduction as quickly as possible.what with crude oil trading at -50$ abarrel.Here in Zambia we peg everything at over board prices when we are infact atypical third world country
OH MMD UNDER RB IS REALLY DOING A GREAT JOB,THATS WHY I VOTED FOR YOU PAPA!
who is baby c?
Baby i like you!
# 52 BARACK O WHO?
# 51 fake Barak Obama
number 47 is right. I read it on the news. Olebelenga
Fuel price,whether incresed or reduced is all circus,excuses are tuned to currency depreciation or high price for a barrel.
Watch,come January everything wil go up.
We shall omment when fuel is reduced. For now it sounds good.
LT this topic has been exhausted can we have a new one.
Polo-jected price reduction rubish! When there’s an increase you just follow suit but now that it’s a reduction you want to be a fake prophet telling stories.
just talk as usual malabish
#40 amasaka yanshi? hope bunga pantu nabudula.
What the hell is a metric litre. I thought litre was a metric measure. Help me guys is it 90 metric tonnes or litres.
#47 thanks for bringing up the issue of zambian women being arrested everywhere for drug trafficking. I think this issue, though off topic here, needs serious attention. There are too many young zambian women being imprisoned abroad for drug trafficking. They are not tarnishing the name of zambia but soon they will make it difficult for zambian women in general to travel abroad as we’ll all be viewed as potential drug traffickers the way nigerians are viewed everywhere. Why ma zambian girls sure?? So far we have a zambian lady in an indian, indonesian, dubai, singapore prisons, while another one dief in a pakstan prison recently. All are victims of nigerian drug lords who dupe them
That’s a welcome announcement but I’ll wait for the pump price to actually reduce.
#32, I hear you my brother. But by wrongly assuming that most newspaper buyers are sata supporters, the Post risks alienating those of us who are not sata supporters. Reason tells me that actually the majority of pipo who buy newspapers on a daily basis (ie the elite by zambian standards) are not sata supporters. His supporters are those who stand by newspaper vendors and read the paper for free or they read borrowed newspaper. Its very shortsighted for the post to emulate govt papers that receive grants. The post is a business and their decisions should not be driven by short term gratification but by long term profit prospects. No one takes the post serious anymore
The free makt theory is unworkeaable in Africa,the law of Demand and supply is just on paper.
Imagine fuel prices go down globally,but here its skyrocketing. It appears here the law of demand and supply works opposite.
Imagine Tastic Rice costing K95,000 where are we going mwe bantu.
Sarah i have like you.Am serious!
Sarah #66,i like you.
Iwe ci Chewe go away you muppet! Ala ninshi unwine? Told you the last time to stay away from those Choncoli herbs. Tabwakapone mambala.
Google some escort agencies where you are. As long as you have got $200 to pay. They are not like amaule yaku Zed.
Hi Chewe missed you.
Chewe Baba C mwaume. Unless you are are G eerrmmm aaaaaaa eerrrrmmmm y!
Sarah, i have really liked you!
Ba chewe I thought Namulala.Nomba mwakukila kuli sarah.Iam speechless.
Is it true that construction of all those smaller power stations has indeed started. Can someone please confirm. Adding up the figures, we are talking about nearly $4bn. Please refer to the last paragraph in the article.
it is very dissappointing to learn that the government is still contemplating about reducing the price of fuel in the country. the price does not depend entirely on the governments: it is a global issue. at the moment the prices of crude oil have fallen down and conclusively the prices of fuel in many countries especially Tanzania have dramatically gone down. this is not a political to make feel that the zambian government has reduced the prices of fuel, it is a global issue. just reduce the price, stop stealing from your own people.
it is very dissappointing to learn that the government is still contemplating about reducing the price of fuel in the country. the price does not depend entirely on the governments: it is a global issue. at the moment the prices of crude oil have fallen down and conclusively the prices of fuel in many countries especially Tanzania have dramatically gone down. this is not a political issue, but business issue, no should feel that the zambian government has reduced the prices of fuel, it is a global issue. just reduce the price, stop stealing from your own people.