Power utility, ZESCO Limited has dispelled assertions that there is an impending restructuring of the company and has clarified that the Industrial Development Corporation (IDC) is only conducting an assessment or research to understand the current status of ZESCO.
According to Radio Phoenix, ZESCO Limited Senior Corporate Affairs Manager John Kunda said that no decision has been made for restructuring yet and that there are currently no outcomes or results made with only assessments ongoing by both the IDC and internally by ZESCO itself to look at what viable options can be proposed for the future of the power utility.
And Dr. Kunda has disclosed that ZESCO currently has over 66,000 pending connections countrywide for people that have paid and are waiting to be connected to the power grid with some of these dating as far back as 2017 due to financial constraints.
Dr. Kunda explains that ZESCO is in the process of meeting its suppliers of required poles, cables, and meters to make them available while also engaging the energy regulations board to align and clarify sustainable connection fees saying currently if a customer pays K3,000 for a connection, ZESCO still has to borrow K7,000 to top up to facilitate the process.
There have been ongoing discussions about a possible restructuring and unbundling of ZESCO which has reportedly been on a loss making trajectory for years now.
Meanwhile, Energy expert Johnston Chikwanda is calling for enhanced communication on the proposed restructuring of power utility, Zesco to avoid speculation by the general public that the firm is on the verge of privatization under the new dawn government with an imminent International Monetary Fund –IMF- deal.
Mr. Chikwanda says there is a need for government to adequately prepare the general citizenry for major policies and decisions that will be made to facilitate the impending restructuring of Zesco limited.
In an interview, Mr. Chikwanda is also urging government to disclose conditions set within the much sought-after IMF bailout package to clarify whether the proposed restructuring of Zesco by the Industrial Development Corporation-IDC is attached to the agreement.
He adds that the reputation that IMF is perceived to have by Zambians leads to numerous speculations which must be quailed with improved communication and transparency in the manner the decisions are made.