The Energy Regulation Board has announced that pump prices of fuel products will remain unchanged following the introduction of Statutory Instrument number 125 of 2020 on Value Added Tax (Zero-Rating Amendment) order by government.
The ERB disclosed that the order will have no effects on the current pump prices of petroleum products across the country.
In a statement issued to the media in Lusaka, ERB Board Chairperson Jane Kabwela explained that SI No. 125 has included petrol and diesel to the schedule of zero rated petroleum products.
Ms. Kabwela indicated that the SI was aimed at cushioning the impact of pump price increase and to further stabilize the price of petroleum products.
The ERB Board Chairperson disclosed that the SI, which was effected on January 1, 2021, responds to the various changing variables as a result of the exchange rate and its effects on the pricing structure of petroleum products.
She further said the order is meant to benefit the consumers as well as ensure security of supply.
Ms. Kabwela however indicated that the capped national pump prices of fuel products will remain the same.
“The Energy Regulations Board in cognizance of this positive development has maintained the wholesale and retail prices of petroleum products following the VAT Amendment order contained under SI No. 125 of 2020,” she explained.
She has meanwhile called on the public to contact the ERB offices across the country for additional information.