Wednesday, April 17, 2024

The Price of Fuel will come down by June this year, says UPND Energy Committee Member

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The United Party for National Development (UPND) has said that various energy reforms are being applied in order to reduce fuel prices and make the sector more viable.

UPND Energy Committee Member Noel Nkhoma has said that it is expected that prices of fuel will come down by June this year.

Mr Nkhoma explains that as part of reforms, the government announced that it will no longer participate in the supply of oil but will be a regulator to encourage more private sector participation and in turn influence reduced prices.

He says the government has also invested in fuel reserves to ensure that the country has enough stocks to cushion it from external factors that influence price increments.

He says the current fuel prices being experienced are being influenced by various factors which include the war between Russia and Ukraine.

Mr Nkhoma explains that Russia is among the largest distributors of oil in the world and some distributors have taken advantage of the current crisis in that country to hike prices.

He says the UPND is in line with the party manifesto and is implementing long-term measures that will benefit the economy.

Mr. Nkhoma says the removal of fuel subsidies was done because it was not beneficial and it has left the government in a 700 million dollars debt to oil companies.

Speaking during a media briefing in Lusaka today, Mr Nkhoma said the UPND administration inherited an economy in distress and is determined to reboot the economy.

And UPND Energy Committee Chairperson Charles Kaisala said the pricing model by the Energy Regulation Board – ERB- to review prices every month is done to ensure major determinants of prices are considered.

Meanwhile, the Southern African Development Community (SADC) Center for Renewable Energy and Energy Efficiency(SACREEE) has said that Zambia is one of the few countries in the region that has significantly achieved energy efficiency through the introduction of energy-saving lighting measures.

SACREEE Lead Renewable Energy Expert Readlay Makaliki says that Zambia has cut down on energy wastage resulting in savings for both individuals at the household level and the heavy power consumers such as mines and industries.

Mr Makaliki has however called on regulatory agencies to ensure strict compliance with Statutory Instrument number 16 of 2016 which banned the importation and manufacturing of non-energy saving lighting appliances.

Speaking at Skills for Energy in Southern Africa (SESA) media training, Mr Makaliki wondered why imported incandescent bulbs that consume a lot of power are being openly sold on the market contrary to the law.

And Ministry of Energy Principal Energy Officer Brian Mainza said Zambia has a lot of untapped potential in renewable energies such as wind, solar and geothermal which needs to be developed.

29 COMMENTS

  1. Noel NKhoma you appear to have lately been consulting fortune tellers or palm readers. Being a member of the Energy Committees does not mean, you must utter any nonsensical comments to keep yourself relevant. This public relations drive campaign on fuel prices, you guys have started, has become so narcistic. Best to keep quiet.

    We have an Energy Minister blatantly telling lies to the nation that we will get electric poles from Zambia because of climate issues. What a load B*S. This is all corruption at the highest peak of a mountain.

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  2. Do not make promises on matters over which you have no control. This is why you end up being called liars.

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  3. Correction … >>>

    We have an Energy Minister blatantly telling lies to the nation that we will get electric poles from Zimbabwe because of climate issues. What a load B*S. This is all corruption at the highest peak of a mountain.

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  4. These people don’t seem to learn. HH is suffering from false promises and here is this nonentity making promises which he cannot back up. This is not the time to anger people but a time to apologise for making false promises.

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  5. An unwarranted statement DONT pridict the crude oil price
    No one knows just yet ?
    The fact that Putin is thought to have terminal cancer wont change anything yet…
    His foreign minister who will take over is also thought to be more rabid

  6. These people are still promising even while in power. So the war in Ukraine will end by June or what. UPND was born out tribalism and lies so this is what we will experience until 2026.

  7. Whatever we experience until 2026
    no matter how bad it will be better than if it was still pf
    only the savvy will understand this

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  8. Marabishi! Which economic theory says prices will rise before they fall?
    We all know what is going on, what we want to know is what are you doing to solve the problems we have?
    Don’t tell us how bad things are, we removed PF because we knew they had messed up and things are bad. So don’t remaind us of how bad things are we already know that. Solutions please.

  9. The only f00ls singing praise for upnd even when it is clear that things are bad are not even in zambia. These f00Is are all abroad and are not experiencing what we here in zambia are going through. Some of them have not visited zambia for decades because they have not legalised their papers there abroad so they cannot risk travelling and being deported or not allowed to go back to diaspora. They are frustrated illegal immigrants. Fuseke!!

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  10. @Independent If they get poles from Zimbabwe these poles are stronger because of Zim’s different climate????

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  11. “more money in your pockets in 90 days” remember that famously bold lie before you point an accusing finger at others you PF embwas.

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  12. That’s definitely a false promise bcoz Ukraine war is not over and int’l price of crude trades differently.

  13. You have been telling us lies. You liar Mininister you are saying fuel hike was due many factors and one of the major factor is war in Ukraine are you telling that you are going to end war in June for to reduce fuel price in June? who are you to end war in Ukraine?

  14. How much are you going to reduce in June, below what you found it when formed government or what? The price of fuel is already high it only make sense if you reduce below what PF left. And how do you know the war will end in June for you to reduce the prices of fuel? Please stop lying.

  15. Yes, fuel is at the right price now according to the economic circumstances dictating in the world. Those making noise about this development should try walking its free.

  16. They say prices are stick once they rise are difficult to come down and unfortunately that’s the forecast for oil unless there is any significant transition or additions but again they say the future is uncertain but I think the people’s houses observation and comments on the downside Risks in investing in fuel price and reserves are correct here You need to take the price and cap it to make even some gains shorter or longer

  17. Shame on you Noel……..You openly tell a lie like that?
    Its clear that you are a student of Nalumango economic class. “Things go up before coming down” theory.
    Nipano tuli.

  18. Wow is he competing for chushi;s job? A simple ‘ Party Committee Member ” calls a presser and starts issuing such callous statement….wow simply wow….even if this were true doesnt this committee have a chair or even a secretary to issue such information?

  19. I would love to see the shortage of drugs in hospitals come to an end. I hope it happens soon because that’s why we gave you a five years contract. You need to up your game otherwise your contract wont be renewed.

  20. Should we put on record and revisit the statement after June? Abakali tabalanda. Bacitafye ifipapo. Keep quite and do the work.

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