UPND President Hakainde Hichilema has said that President Edgar Lungu and his government should reduce the price of fuel immediately in line with the decline in global crude oil prices.
In a statement released to the media, the UPND leader said that with the oil price declining to its lowest level from US$110 a barrel in 2010 to the current US$30 a barrel, President Lungu has no alternative but to reduce the price of fuel NOW.
Yesterday the oil prices briefly fell below $30 a barrel on international markets for the first time since April 2004, before recovering again.
Brent crude, used as an international benchmark, fell as low as $29.96, but bounced back to trade at $30.22. Oil prices have fallen by 70% in the past 15 months.
Below is HH’s full statement
OFFICIAL STATEMENT
HH Calls for fuel price reduction
President Edgar Lungu and his government should reduce the price of fuel immediately in line with the decline in global crude oil prices.
With the oil price declining to its lowest level from US$110 a barrel in 2010 to the current US$30 a barrel, President Lungu has no alternative but to reduce the price of fuel NOW.
Zambians have suffered enough with high fuel prices leading to rising prices of food, commodities, transport and higher costs of production to mention but a few. It is inconceivable for the PF to justify the current high prices as global.
The fuel price in Zambia increased significantly during the second and third quarter of 2015 and led to higher inflation and anxiety in the country.
The upward adjustments were implemented by the PF Government without due care for the plight of the suffering Zambians. This is definitely not a pro-poor government.
The outlook of the fuel prices as at 11 January 2016 in our neighboring countries and some other African states still indicate that we have the most expensive fuel in the region as can be seen below;
| Country | Fuel prices as at 11 Jan, 2016 |
| (USD per litre) | |
| Algeria | 0.21 |
| Namibia | 0.66 |
| Botswana | 0.74 |
| South Africa | 0.74 |
| Swaziland | 0.71 |
| Kenya | 0.87 |
| Niger | 0.86 |
| Zambia | 0.88 |
The subsidies that President Edgar Lungu referred to in his media address were removed by the PF Government way before the demise of the late President Michael Sata (MHSRIP). This is just another case of Donchi Kubeba (PF lies).
We therefore demand that the PF government give a full explanation as to why fuel prices have remained high, despite a significant drop in global oil prices.
Hakainde Hichilema
UPND President
That’s what we all want, but then again there are other economic factors that should be considered before a reduction of fuel price can be effected. For example, Saudi Arabia, one of the biggest exporter/producer(if not the biggest) of crude oil recently increased the price of fuel because of they had a budget deficit.
UKO!
HH & UPND, the PF is feeling the heat & pressure. All what PF has is the outdated tribal card they impute on UPND, but evidence shows that the PF are the ones unleashing tribalism on others. Pressure HH.
“Zambians have suffered enough with high fuel prices leading to rising prices of food, commodities, transport and higher costs of production to mention but a few. It is inconceivable for the PF to justify the current high prices as global,” said HH.
4 months left for PF to scamper into oblivion.
The Skeleton Key
~206~
@Ba Sebenza
The fall of crude is on the WORLD market. If Saudi Arabia has internal issues with it’s economy, it’s not for Zambia or any country to share those woes. Zambia does not always get its oil from Saudi Arabia!
VIVA HH, VIVA UPND.
Sadly Edgar will take HH’s instructions and use the reduction for August 11th votes. Zambians have now woken up and won’t take desperate, last minute fuel reductions by the PF.
Why have you left of out Zimbabwe, Malawi, Mozambique, Congo, Tanzania etc. There are a number of factors that affect the price of fuel which you as an economist know very well but deliberately fixing the Government for political mileage. Grow up HH.
@Dada,
Iwe Dada, stop hinding behind general statements like “There are a number of factors that affect the price of fuel which you as an economist know very well but deliberately”
Can you please, give everyone here on LT a lecture concerning those factors? Do you know what you are talking about?
I look forward to your Economics Lecture, which is better than HH
Ba Sebenza
Low oil prices is bad news for the Opec cartel which includes the Saudis, it affects them like we get affected with low copper prices though we don’t even own the mines in terms of jobs,productivity slow down etc..hence they are attempting to kill off the threat from the US shale industry that is sending crude to its lowest level since the depths of the global recession almost seven years ago.
In Zambia someone somewhere is getting rich of our ignorance…someone is creaming the profits somewhere.
Lungu PF is stealing from me by charging monopoly abusive prices to fund PF campaigns.
Fuel pricing in Zambia has always taken account of two factors; exchange rate and oil world market price.
Lungu is on record that he had stabilized the Kwacha. That with the record tumble of world crude oil pricing should IMMEDIATELY lead to low fuel pump price.
But Lungu won’t reduce prices as he intends to continue stealing money from hapless fuel consumers like me.
I refuse day light robbery and political calisthenics : I want the benefit of low world crude oil pricies in the same measure that I accepted the upward revision of pump prices when Lungu PF said the world oil proces had increased.
Stop the banditry and Reduce fuel pricing now!!!
Politics should be about facts. At $60 a barrel the Kwacha equivalent when 1$= K7 is 60 X 7= K420. At $35 a barrel the Kwacha equivalent when 1$=12 is 12 x 35= K420. So where does price reduction come in? Even in S. Africa there has been no reduction in price for some time now because at $1=R17 the Rand has spiraled out of control and political parties in S. Africa like the DA are blaming Zuma’s ANC. So blame Lungu’s PF if you are not satisfied with the explanation given for the depreciation of the Kwacha for the non reduction in the price of fuel. That is the fact behind the price of fuel.
Valid point. The other question is “Is there a separate account at Min of Finance for fuel revenues?” How does it work with the riggers/sellers, shippers/pipelines, Indeni and the oil marketing companies?
Lung has no clue on whats happening. he has dull ministers who don’t think at all. cheaper fuel will lead to cheaper transportation of goods. hence prices as well will go down to benefit Zambians.
By the way, A Picture can tell a thousand words. In this Photo, Lungu looks dead scared, he will not win this election.
He also looks angry with an evil eye truly showing the hate he has for HH. Anyways you messed up Lungu, so time to pack ur Jameson back to where you came from.
This is why we say HH is just an economist on paper, everything that comes out of his mouth with economic connotation is always a missed call.
Please find the latest highest fuel prices in US$ per Litre: Hong Kong (1.87), Netherlands (1.73), Norway (1.66), Italy (1.63), Denmark (1.63), Monaco (1.62), United Kingdom (1.60), Israel (1.59), Greece (1.56), Barbados (1.54).
Now politicians should not be cheating to win votes by selectively selecting the data that they want you to see.
Check this website (link below) for more recent details then judge for yourself.
http://www.globalpetrolprices.com/bulletins/Global_Petrol_Prices_Q4_2015.pdf
There are no other economic factors to consider. If the price of crude increases to $50 per barrel, i bet you 100 percent the price of fuel will go up and the explanation will be the government can’t sustain to cover the cost of fuel because the price has gone up and the Kwacha has stabilised. All lies—- everyday. They should reduce the price immediately as directed so the people can enjoy the benefits of low fuel prices.
Ba HH ni Missed call. How can you compare prices of oil with countries with ports like Kenya, Namibia, etc. Zambia spends extra money to transport that oil from Darlesalam to Ndola and other parts of the country. Economist, my foot.
there he goes again making demands like a spoilt child
Iwe Rizzo are you insane? who wouldnt appreciate cheaper fuel? stop reasoning with your arseh0le use your brain for a change. Higher prices of fuel affect everyone regardless of their political affiliations. Viva HH
HH is patronizing joker brother……..
STFU! Go and floss your arse yourself chi kala cha wi so
HH is playing politics. HH knows the old price that the government paid the oil for. He knows the price expiry dates. But he is simply playing politics.
The government does not import or procure oil on weekly or monthly basis; to drastically reduce the price over night. It secures these deals on medium and long term agreements.
Take the UK. The distribution companies paid the oil barrels at old price.
But the oil price cannot be reduced over night on the gas pumps, even if that’s what the David Cameron’s Government would want to be; to reflect global oil slump down – and make political capital to the voters. The’re a lot of factors that have to be looked.
Else the distribution companies would go bust for throwing away their profit margins and get heavy penalty fines for…
Else the distribution companies would go bust for throwing away their profit margins and get heavy penalty fines for dropping future contracts.
Crude Oil has been going down for more than one year. Yet it has taken the US years to reach less than $2 per gallon on the gas pumps. They are a lot of factors involved.
HH is a spoilt child! He doesn’t care about facts, all he cares about is being president of Zambia, even if that Zambia will be totally broke by the time he takes over. The depreciation of the Kwacha and the non inflow of dollars due to collapsing of commodity prices on the international metal markets are a blind spot for HH. The only thing he can perceive in his quest to replace Edgar at plot 1 are reduced fuel prices.
Our leaders should stop making arguments that sound like they are talking to a grade 2 class!
@Ba sebenza good comment, but I just want to put it to you that Saudi Arabia while true has a budget deficit it also heavily subsided fuel for its citizens. It is only now that they want to take them to market prices. Read the ecomomist magazine for this week. For Zambia it’s not about the budget deficit but mainly the exchange rate. You also may realize that, the current pump prices in Zambia were increase when international prices were at around 50 to 60 dollars per barrel and our exchange rate was around 7.5kwacha to a dollar while today it’s around 10 kwacha to a dollar and oil prices are at 30-33 dollars per barrels. I will let economists inform us whether a reduction in pump prices here in Zambia is due all things being equal. Thanks.
HH, this is a listening government & it listen to your demands in June 🙂 but for now the difference between the buying of fuel & selling of fuel is going straight into some people’s pockets.
When HH sneezes, everyone gets the cold…Viva HH and UPND
When HH sneezes everyone catches the cold…viva HH and UPND
ninshi ni ndoshi
@Pungwa, kikikiki…….ala mwandi imbafu shakalipa kunseko……bepushe!
@Ba Sebenza awe alatupwa uyu muntu nobuloshi bwakwe muntu wandi,pantu nga alwala icifine ninshi bonse kulwala.GOD forbid
one zambia one nation but people point each each
PF cadres answer me for how long has HH been demanding for reduction in fuel prices since last year.Fuel prices has been reducing since last year when will the benefits be passed to us Zambians.we know PF cadres are not feeling the poverty because they are benefiting from the corruption in the road construction sector.Fuel prices should reduce now its not negotieable.
its not Lungu that reduces fuel. Why dont you storm ERB and the Ministry of Energy. Politics rely are bad and given a chance, things would rely change as i always put jokes aside.
ERB also increases and reduces electricity tariffs without political interference right??
i am just trying to follow HH’s reasoning here. In a free market economy, can the President reduce the price of fuel or is market forces of supply and demand that determine the price? With the possible exception of Kenya, I notice,from the figures given by HH, that the nearer a country is to the sea the lower the price of fuel. Can this also be blamed on Lungu, ba HH?
I also ask, in a ‘free market economy’ can the president increase or decrease price of energy, electricity to be specific? That being said, credit to HH for trying to elevate the level of debate in our politics, let us take note of the response to this issue if any.
This Id!ot HH is confused and a liability to the Zambian democratic system late alone economic matters
@Maikalange we chikopo we.You mean you don’t know that in Zambia the Government is involved in fuel procurement.why do you think Yaluma or Dolla announces each time Indeni is shut down.you are talking of free market economy as if you are from space.The Zambian government is very much involved in Fuel,electricity and maize buying and controls.This is the reason HH speaks out to Government.
Sido Mark,
Thank you for belittling and insulting my intelligence. I expect that from people like you.
It’s a listening government, and it will only listen to HH in June. As for now the difference between the buying price on the international market & the selling price of crude oil to consumers is going into MP’s shallow pockets.
Where does hh get these wrong figures from?
look at the countries selected in the example. trying to incite citizens as usual. you wicked and crooked Satanist.
Wake up fellow countrymen ; PF is stealing from you!!
When world price goes up, they immediately increase pump prices……now that the same crude is a fraction in cost, why steal from me and insist I pay prices set when crude was north of usd180……abomination!!!
Disputee the facts. Are these countries fictitious?
3 out of the listed countries are Landlocked ba guy. If your current government keeps saying that the problems being experienced in Zambia are also being experienced in the southern region then why isn’t buying crude oil cheap in Zambia like the rest?
HH have you factored in the current depreciation of the kwacha? Has the cost of transporting the same crude reduced or increased? Are processing costs at indeni remained static taking into account the state of its plant and equipment?
Teach him real Economics it seems HH is very dull at this game. He is just seeking publicity after a blow from 50+1.
THIS MAN WANTS TO REDUCE HIS CAMPAIGN BUDGET BY FIGHTING FOR FUEL REDUCTION. UKAKABAKANA MWATA UKASULWILILA CHAKWILA
HON HYENA YO DEMAND MAY BE OK BUT ARE WE GOING TO BE CHANGING FUEL PRICES EACH TIME WORLD FIGURES GO DOWN OR UP.
#MIND YOU THE GOVT STILL SUBSIDISE FUEL
#REDUCTION DOES NOT BENEFIT THE MAJORITY POOR REMOTE ZAMBIANS SO THE GAIN SHUD JUST BE TRANSLATED INTO SOCIAL CASH TRANSFERS
#GOVT SHUD NOT REDUCE~~~WHY? EVEN IN TOWNS BUSES REFUSED TO REDUCE BUS FARES REASONABLY.
#COMMODITIES REMAINED HIGH OR EVEN INCREASED IN CERTAIN CASES.
ONLY FOOLS LIKE HIM BENEFITED DUE TO SELFISHNESS
Twakana bakabolala ba PF reduce the prices.You always talk of Global.Fuel prices Globally have reduced so let as also benefit from this Global reduction of fuel.Why are you selective its only Global when its bad.Bakabwa mwe.
You thinking is deceptive as it is warped.
How can govt subsidize a product that is way below selling price ?
I notice from your defense that either you are mendacious or you have no clue on modish operandi heretofore of fuel pump pricing.
Stop the banditry and Reduce fuel pricing now!!!
Please ba Church Elder, think like an economist you claim you are!! You have tied yourself by quoting the prices in other countries. With the exception of Algeria, which I presume produces oil, a reasonable and honest analysis in the variation of prices entails that those countries closer to the sea have slight low prices of oil! If you honestly consider the geographical position of Zambia and its distance from the sea will tell you that the slight difference with other countries could be attributed to transportation costs.
Unless you tell us that you are just politicking otherwise your demand is very childish as usual and one does not need to be a rocket scientist to see that your reasoning is quite spurious and retrogressive.
Gratia!!!
It’s you who is not just childish but am outright deceiver in the order of Satan.
I have worked at high levels in Treasury and prices go up and down in line with crude oil prices and dollar.
The dollar according to Lungu is trekking southwards to below K6 and oil prices are at lowest.
Even with the exorbitant taxes, fuel prices should be lower than obtains.
Through deception one PF coribant used a fake example of prices being equal at K420 / barrel. The argument is nothing but rank deception. Who says dollar is at K12 when HE Lungu brags of having stabilized it?
Stop lying and let the stealing govt reduce fuel to current obtaining pricing.
BUT THE SUPPLIERS HAVE OLD STOCK WHICH WAS BOUGHT AT A DIFFERENT PRICE SO WEN THE NEW CHEAPER STOCK IS IN DEFINATELY THE PRICE WILL REDUCE CHAPWA……..
zambia may not have benefited from the current low global oil prices because of the exchange pressure that the Kwacha has been facing from other international currencies.Government has to make huge purchases of oil and power at colossal amounts in foreign currency, particularly now when the country is facing a serious energy deficit.Zambia is also faced with a widening deficit of food in some parts of the country which Government is addressing through provision of relief food.
At a time when the world is experiencing low oil prices, our people cannot benefit from that because the same foreign exchange that we could have been saving is now going to purchases of power and other emergency interventions.let us be realistic on some matters,we have drought there is starvetion in some parts of…
HH claims to be a good economist but he lacks reasoning.
ONLY A FOOOOOOL WILL NOT AGREE WITH THE DEMAND FROM HH FELLOW ZAMBIANS OPEN YOUR EYES THIS IS THE MEANING OF HAVING AN OPPOSITION WHICH HAS BRAINS VIVA HH
@tripoli it is you who is a fool coz you are following foolish demand just to gain a foolish political mileage by a foolish leader like HH
You are on such fool for being one dimesional
U and your hh are fools..! Iam now doubting your papers…!
Who depreciated the Kwacha from K5 to now heading to K13?
Why should I pay for the failures, economic mismanagement, corruption and incompetence of Lungu PF?
Countrymen don’t be deceived , almost 70% of fuel pricing is made of taxes!! I am on firm ground. I worked in the Teeasury…..
Reduce fuel prices NOW!!
There are so many factors to consider before determining the price of fuel in a country such as cost of crude, cost of refinery, taxation, demand and supply, geographical location among many more. HH should first address the same before taking advantage of low literacy level of majority of the people to seek political advancement. We should show how we have tuckled a sum before we arrive at an answer for those cute in mathematics. Lets not demonise everything on our way even the impractical ones just to attain plot1. More often than not, a great talker is a great liar.
it is common knowledge that when prices drop on international market the same must happen anywhere. in the mining industry copper price has dropped and the biggest ingredient in the production of copper is fuel( HFO,DIESEL). by following the global trends on commodity prices this government would have saved a lot of jobs in the industry. in 2008-2009 global recession we survived because RB government that time applied the simple economics that edgar is failing to apply.
Surely these ultimatum demands are not mature from a mature politician… engage your friends as a mature leader..
Who is a fool here….? Where did hh get his economy degree from…?
SO IF THE CURRENT CRUDE STOCK / DELIVERIES WERE BOUGHT AT US$50 PER BARREL IT SHOULD BE REDUCED TO REFLECT THE NOW US$30 PER BARREL.
IF YOU PLACE AN ORDER FOR CRUDE THAT IS TODAY AT US$30 PER BARREL, YOU CAN GO O THE FILLING STATION AND FIND IT REFINED AND ON SALE?
WELL …… EDUCATE ME .
Well, APPARATCHIK, I will educate you.
Do yourself a favour. Get a smartphone and so some google on the price reduction of crude oil since 2011.
Then check and discover that Zambia buys crude oil on spot prices.
Perhaps then you and fellow PF minions will realise that your lying doesn’t hide your daylight banditry on pump fuel pricing.
Masholi….!!!
Maikalange you are right, in fact we don’t just reduce here and then because fuel prices keep on fructuating and need to wait a bit before you make down adjustment. You may increase today and tomorrow the prices are up again, it becomes difficult to make upward adjustment as people will oppose the move. The other thing HH should understand is that in a free economy like ours, the president won’t just wake up and say reduce the price of fuel, no! if that is the way HH wants to run the country it would be risking especially to investors and would be investors. Let specialised bodies deal with this issue. Consider the issue of old stock, if that is what we have we can’t just reduce because crude oil in mid-east has been reduced, no! we need to consider two factors, the current stock and…
Iwe H.H I live at the border with NAmibia and fuel on the Zambian side is cheaper than Namibia.Dont cheat the people with outdated data.We buy fuel in Namibia because we only have one filling station and fuel is constantly out of stock, and not because its cheaper there.
when the dollars is bad we don’t compare with other countries.. just thinking.
@me Unfortunately the price of oil is quoted in US$ unlike mealie meal but even then you find millers justifying the increase in mealie meal price due to the $.
Ama politics kukosa,especially if you are surrounded by grade six,term four dropout as your vice president….
Interestingly Zimbabwe ‘s fuel is selling between USD1.03 and USD1.06 and DRC fuel is selling at USD1.36 per litre and Tanzania is selling fuel at almost the same price as Zambia.
Fuel is cheaper in SA because they have ports nearby. Economically you can not have the same price of fuel as SA. Imported goods become more expensive as you go into the main land away from the ports…no brainer it is the transport costs. It would be great though to have another price reduction
The problem with bitter man is that he thinks Zambians are very very dull people. True the global oil prices have sharply fallen down but what this Under 5 as usual has not considered in this shallow statement is this: At how much is the Zambian kwacha buying the dollar which we use to import the same oil?
Why has he deliberately not shown in his table of comparison those country’s exchange rate to the dollar?
When we tell you that this man is not interested in the affairs of the nation but his own selfish agenda, you say we ate carders, no, it’s just that HH is not anyone can take serious on matters that affect our nation if anything, he is a big danger to our society.
Let him also suggest where the cheap dollars to buy this oil will come from. Why hasn’t he talked about the low…
You are lying!
When did crude oil prices start declining from 2011 and have been below $50 since 2015. Which high cost old stocks do you refer to?
Current pricing is daylight robbery!!!
Cont’d
copper prices that has affected our kwacha? Hear this HH and your cronies, you will not rule Zambia bwana because everyone knows that you are misfit and your agenda is personal than country.
Come 11 August 2016, all you lies and schemes will be exposed in the ballot. We all know why you ate desperate for power and the outside forces you ate serving!
Viva Edgar Chagwa Lungu, 70% is assured in these elections!
Lungu is a failed project (full stop)
It’s you PF minions who want to lord Lungu over the now impoverished Zambians because of your grand corruption.
Come August 11, we the people of Zambia will judge you on:
1. Kwacha depreciation
2. High prices of everything
3. Theft through artificial fuel prices
4. Economic sabotage
5. Cadre violence and beating up of marketers and extortion by PF cadres
6. Inflation now going to 48%
7. Oppressing people through POA
This Supreme Leader HH of the UPND thinks the President of Zambia Mr Edgar Lungu can just wake up and order every one to reduce fuel when in actual fact there are government agencies responsible to analyse and factor in global trends in the economy before a decision is made and that’s how a good government works it’s not like farm or company that you can dictate everything… Only after such analysis,can a decision be made to reduce the fuel…
Giving instructions to the all-powerful – but-humble President Lungu. The little pompous head kachema.
AM VERY DISAPPOINTED WITH MOST OF YOU HONESTLY YOU WANT THE FUEL PRICES TO REMAIN THE SAME WHILE ON THE WORLD MARKET THE PRICES ARE FALLING, JUST BECAUSE YOU LOVE LUNGU THAT’S WHY I SAID ONLY A FOOOL WILL NOT AGREE WITH THIS DEMAND FROM HH .AND THE WORST PART IS MOST YOU YOU FOOOLS HERE YOU DON’T EVEN DRIVE….KINDLY LEAVE OUR SPACE .
@tripoli am equally disappointed with your foolishness honestly you cannot see and analyse the factors that are affecting the economical situation,you are such a fool together with your foolish mesiah HH
Boss you left out the price in Angola, Zimbabwe, Mozambique , Malawi, Tanzania… infact you just mentioned two of Zambia’s neighbors. Is it because you would have no point. seriously , how can you make comparison with Algeria.
If the price of crude oil went up today it will only take pf government less than 2 weeks to announce the upward increase of the pump price and they will be very quick to say it is global, but when the price of crude oil is reduced they cannot reduce and they say there are many factors why they can’t reduce. Can’t understand the level hypocrisy by these illiterate PF idi0ts!
Chagwamustfall, Chagwamustfall, Chagwamustfall, Chagwamustfall, Chagwamustfall, Chagwamustfall, Chagwamustfall, Chagwamustfall!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Wishful thinking! Even progressive Tongas know Edgar Chagwa Lungu will not fall. He has done though he comes from a different region of the country, he has not been biased. In fact, he has done more in Southern Province than in Eastern Province where he comes from. Please, let’s appreciate
These idi0ts supporting Lungu are not supporting him because of his leadership and sound policies but because they hate HH a Tonga out of sheer jealousy. If HH was in charge of supplying oil and Lungu made that demand of reducing the oil price all the above visionless supporters would go with the visionless Lungu without knowing why they are supporting him, or is it because he speaks bemba! We are 1000 years away from civilization! Continue suffering, some of us are not affected, you are used!!!
What most people are forgetting is that fuel costs are factored in the cost of production and eventually prices of commodities. Even if the government will make less from the taxes when the fuel price is reduced, this is massively compensated through the benefits of low cost of production, doing business (hence retaining jobs) and lower goods/food prices (meaning more money in your pockets for other ventures that may include investing and saving) We need to take advantage of low fuel prices to stimulate the economy. Of course its difficult – seeing as the people you expect to do this, are the same ones who got the economy in a mess in the first place.
These idi0ts supporting Lungu are not supporting him because of his leadership and sound policies but because they hate HH a Tonga out of sheer jealousy. If HH was in charge of supplying oil and Lungu made that demand of reducing the oil price all the above visionless supporters would go with the visionless Lungu without knowing why they are supporting him, or is it because he speaks bemba! We are 1000 years away from civilization! Continue suffering, some of us are not affected, you are used
HH confuses me on a number of issues as an Economist, He has painted ECL as no vision, the problem Zambia is facing is bad leadership, the economic problems are Zambia specific. now i wonder what he is talking about as our colleagues in OPEC are suffering these low comodity prices in oil we are suffering low copper prices. HH just accept that its no PF or ECL’s problem that we are in these economic hard times, but you would not coz you want to capitalise on votes by always talking against ECL and PF even when you know the real coz of the economic problem. If i where you i would ask for a platform to explain to leymen about the couse of these economic hardships around the world but he continued attacks on ECL and PF means even him does not understand what is happening there by…
@PUNGWA SOMPOLA INKOKO…………………. MY DEAR AM NOT A CADRE LIKE YOU WAITING FOR EL TO VISIT SO THAT THEY SHOWER YOU WITH NSHIMA AND K50,I HAVE A LIFE I CAN EVEN MANGE TO BUY MY OWN EXPENSIVE FUEL AM JUST CONCERN BECAUSE LIFE IN OUR ZAMBIA TODAY IS NOT BALANCED THINK OF PEOPLE IN THE VILLAGE WHO CANT AFFORD TO BE CADRES LIKE YOU IDIIIOT
HH you are dull. $60 a barrel the Kwacha equivalent when 1$= K7 is 60 X 7= K420. $35 a barrel the Kwacha equivalent when 1$=12 is 12 x 35= K420. So where does price reduction come in?
The only qualification to be UPND is dullness. Ubukopo.
We cikopo niwe! Mule sapota amafi!
We cikopo niwe! Mule sapota amafi!.
Haleya Halenya…..exposing his foolishness, for sure upnd is under 5, its difficult to reason with hh coz he is like a Arab and you call yourself an economist ma rubbish…. Ba upnd plz look for another leader not this fool by the name of hh.
Voting for UPND would be the greatest mistake Zambians can make. If in opposition the chaps can insult at will what more in power? Hmmmmmmmmmmmm!!
Comment:who reduces or increases the prises of fuel ? The president or erb ? If he is going to reemploy the retrenched miners once in power, does this mean that the government is going to reposes the mines ? As at now, who employs miners? Government or the mines?
VJ is finding ways of gaining sympathy from UPND, he has been a seasoned politician but is now soiling his profile. Instead of remaining quiet and making constructive statements to serve as an adviser, he is not satisfied with what he achieved while an active politician. Badaala, demonstrate your vast experience by being a good example to upcoming leaders. Your past experience is testimony that even us Tongas can exponents of the “One Zambia One Nation” Motto
” With the oil price declining to its lowest level from US$110 a barrel in 2010 to the current US$30 a barrel, President Lungu has no alternative but to reduce the price of fuel NOW. ”
I would like to suggest that this basically misunderstand the problem. These are wholesale prices for crude oil, and they are paid worldwide in US dollars. It should be the price as paid by Indeni, for instance.
However, because of the lack of effective taxation of the mines, which led to the highly inflationary and interest carrying $3 billion Eurobond debt. As a result, the Kwacha went from a rebased K1/$1 to K14/$1. Oil is imported in US dollars. So if you have access to dollars, it is a good deal. If you have access to Kwachas, prices have gone up 14x.
This is who pays for the IMF’s…
C-General thanks very much for the report . I am seeing it for the first time. It contains worthy information for the up and down party to reference to.
HH please Zambia is not a farm in full uneducated and gullible workers you mislead. We have been to school and studied economics beyond your undergraduate level and work as economists not auditors.
Mislead your followers who think you are the alpha and Omega
Even Mabisi cost less in Monze than in Lusaka. Reason, transportation costs. Even a person that has not studied economics know that. How do you compare price of fuel between Zambia and Kenya.