The Kasama Chamber of Commerce has urged the Energy Regulation Board (ERB) to revert to the old system of reviewing the prices of fuel in the country on a quarterly basis as opposed to a monthly review.
District Chamber of Commerce Secretary, David Chanda says this will ensure stability in the pricing of the commodity.
Mr Chanda noted that the monthly reviewing of fuel prices has proved to be a failed move adding that the monthly adjustment is detrimental to the economic growth.
He said this is affecting both the business community and household planning of how they will spend for the particular month.
“we urge the ERB to rescind its decision of reviewing fuel prices on a monthly basis because this is affecting the running of business in the country as people are failing to plan,” said Mr Chanda.
And Former Jesuit Centre for Theological Reflection (JCTR) Northern Province Coordinator, Felix Chiwela said the seemingly unstable fuel prices will have a negative impact on the cost of doing business in the country.
Mr Chiwela said ERB should find a lasting solution to the unstable prices of the commodity to ensure the smooth running of the economy.
“With the current situation, it is now difficult to plan because we don’t know what tomorrow will bring,” he said.
He noted that if not well handled, the current situation could cripple the country’s economy.
“As long as the inflation continues to go up, it means prices of commodities will also rise hence affecting the economic growth,” added Mr Chiwela.
What really happened to HH formula of reducing the cost of fuel in this country. The president spent time to lecture the nation on how fuel can be reduced. In his discourse to the country, he even identified areas where middlemen were causing the fuel cost to go up. He promised to remove the middlement so that we start getting cheaper fuel. Mwe bantu sure , was he lying in brad day light? How can we take the president serious ……???
Lets we forget Nalumango economic theory……… “Going up in order to come down” . Yaku Luapula kikikikiki…..
The PF’s failure was that Edgar didn’t control erring officials especially abuse of office and murderous conduct of cadres. Otherwise the other things were okay and those are the things Upnd mistakenly promised to “correct” within hours, weeks. This is why there’s confusion in the pricing of fuel… they have either to live a lie ( reduce) or live the truth (increase,)
I CANNOT BELIEVE SOME JUST BLOGGERS DONT UNDERSTAND THE VOLATILTY OF THE OIL PRICE
THEY JUST POST USELESS NARATIVES
MONTHLY IS THE ONLY WAS THIS GOVERNMENT CAN DO THIS WITHOUT LOSING FUNDS
#4 is it now that you understand the volatility of this special commodity?
Whether or not we like it unstable fuel prices will impact negatively on the cost of doing business in Zambia. Sticking to initial promises of current government will inspire hope. The cost of fuel will remain one of the principal variables in doing business.
STILL MAINTAIN VERY FEW UNDERSTAND THIS COMMODITY
NO COUNTRY CAN MAINTAIN A STABLE FUEL PRICE
RESEARCH BEFORE TALKING NONSENSE
Chipante pante
This is what we mean when people say we have a conman in state House.