Board (ERB) offices
President Edgar Lungu has announced that he expects the Energy Regulation Board to reduce fuel prices in due course.
President Lungu said a favourable pronouncement on fuel prices will help cushion the consume.
He explained that in October last year, cabinet approved the removal of fuel subsidies in to ensure that financial resources are channeled to productive sectors of the economy.
President Lungu said government is committed to passing benefits that may accrue from favourable pricing variables, principally the cost of petroleum products and the exchange rate.
This is contained in President Lungu’s new year message to the nation.
“Given the stability in the exchange for most of 2016, it is my expectation that the Energy Regulation Board will in due course be making a favourable pronouncement that will help cushion the consumer,” President Lungu said.
President Lungu said it is imperative that Zambians embrace the austerity measures that his government has put in place.
“The measures may be painful today and make the future look bleak, but the rewards will benefit everyone tomorrow and beyond. As a nation, we must cultivate a positive attitude and hold out hope for the future.
With god’s help and unity of purpose, we will succeed in developing our motherland.”
He said during the year 2017, Government, will strive to achieve positive growth in the economy, which should generate more job opportunities, especially for our youth.
“We are confident that with the bold steps being taken to manage the fiscal and monetary policies designed to address these challenges, the nation will be more resilient to domestic and external shocks,” President Lungu said.
What factors will make the prices of fuel to come down?
>Kwacha gain?
>Fuel price drop on the international market
>Re-introduction of fuel subsidies?
Not that I don’t support price drop in fuel, but to be realistic, I can’t see any of the above 3 factors (even without IMF) becoming a reality this year to necessitate reduction in fuel prices in Zambia.
Waffling as usual. Its clear from the statement that he does not believe what he is saying. Its like he just woke up and decided he should say something to the miserable masses.
Only when the price of petrol will be less than K9, will it be called a reduction, otherwise it still remains an increment and a joke of the day especially when you reduce by those famous margins of 50 Ngwee… You know what I mean!
LuLu needs to be careful with some of the things he says …. his finance Minister in the Budget told us that the OMCs in 2017 will be importing fuel directly themselves and government is pulling out of fuel procurement … so I really dont understand on what he is basing his “request” on …… so I am inclined to agree with those suggesting that he was on a jemmy roll that day.
What a leader and what a country, Show me your leader and i will tell what type of a country you are, That Guy EL is not even fit to be my tea boy The closest he would have gone is being a grave digger at chibolya district council.
in due course sounded like an instruction don’t be surprised if fuel is reduced in the first quoter with all the fundamentals suitable for fuel reduction still not in place,I think he needs relief from the pressures surrounding his government and the party..
I conquer with you the chosen one,I also don’t see any reason similar to those you have mentioned above.what makes this fuel come down…..we ar Zambians and we need to know.
I also agree with you bro Dundu. Oil prices have been at their lowest ebb recently but this has not been enough to spur a downward movement in this country. So what tangible factor will bring down prices in the foreseeable future? Mere rhetoric to calm down the masses will not do
What surprises me about Energy Regulation Board is its none responsiveness to the drop in fuel prices on the international market. I am meant to understand that there are so many middlemen in the procurement of crude oil from Saudi Arabia. I also think there are foreign players who have interests in crude oil being procured from Saudi Arabia.
At some point, there was talk of government procuring crude oil from Angola. This probably would have made economic sense considering the proximity of Angola to Zambia. Now the biggest issue would have been the many middlemen that get a cut from crude oil procurement process. Why cant government be transparent and publish the procurement process of crude oil so that the ordinary Zambian citizens comprehend the process. This is the more reason why…
A few people want a whole nation to suffer because they have plenty to gain. How selfish! Any selfless president of a Christian nation would want to expose these. Why not do everything in the open?
What a useless leader we have ..why can he not be on the same page with his Finance Minister and accept the fact that the govt is broke and on fuel tell us the truth on Saudi fuel for K5 you promised…are you not alreading receiving it.
“Given the stability in the exchange for most of 2016, it is my expectation that the Energy Regulation Board will in due course be making a favourable pronouncement that will help cushion the consumer,” President Lungu said.
This man lack confidence and I can not entrust him with my copper pennies…surely did he just state that it was “his expectation”…he should just stick to prayers!!
Yes he meant to say it’s my expectation that God will answer my prayers for the price of fuel to go down.
The president should not have talked about something that his finance minister will oppose. Surely the government has just employed health workers which requires more sources of revenue and the president makes a pronouncement as if he is in campaign mode? That reduction will not last 3 months and will just frustrate us as citizens.
Drunkard oblivious to international markets.
Oil prices are on increase globally so how zambia going to get cheaper fuel ?
You know , being ECL is nice, enjoying a presidency with no idea how things work…… Just open your trap and spout anything.
Visionless leader
First reduction its expected to happen on the 31st February 2017
my president for me.
Forgive the man, he was hangwired with new years evil jemmy when he said that. No ideal whatsever with what he was talking about. Mwelele nakolwaa!
iam sure even the most useless pf cadre would not shout fintu ni lungu any more . its like this man is also campaighning like those mps who lost their cases.. who is he telling this crap everyone knows this is not possible as of now.
Awe aba bena twabwelapofye.
Kwene bwafya ba Lungu.naine trust nayamba ikupwa.Citizens are suffering while u’re busy fighting Kambwili to clear your way for 2021.Have u seen the prices of fuel by the way?ZNBC TV fee,Toll gates everywhere,increase in PAYE,Road tax,fuel tax,prices of melie meal.I’m PF but disappointed with your pronouncements which don’t bear fruits.As things stand,you may face jail in 2021 by HH and GMB.You have managed to destroy the party instead of embracing one another.We thought we had a leader alas you’re doing the same thing Guy Scolt was doing in order to chase you from the party.Why ba Lungu?Please help the party instead of fighting Kambwili and abena Lubinda.We want these two to take over PF in 2021.
Maybe it is the Saudi Arabia deal coming to fruition.But whatever the reason for the imminent reduction let’s welcome it