The Center for Trade Policy and Development (CTPD) has noted with concern the sustained rise in inflation rate over the recent past.

The Inflation rose from 12.5 percent in January 2020 to 21.5 percent in January this year, implying that the cost of presentative consumption bundle has almost doubled in just one year.

CTPD Researcher for Public Finance Wakumelo Mataa recalled in a statement released to ZANIS in Lusaka today that during its last sitting in November 2020, the Bank of Zambia Monetary Policy Committee (MPC) projected inflation to average at 16.7 percent in the fourth quarter of 2020.

“However, this is less than the actual inflation outcome for the fourth quarter which averaged 18.1 percent, partly reflecting the accommodative policy stance taken by the committee in the previous quarter on one hand, and the weakening of the Kwacha on the other,” he said.

Mr. Mataa noted that while growth concerns have outweighed inflation worries in recent MPC meetings, the current deliberations should be informed by the heightening effect of the continued rise in inflation on the cost of living and doing business in the economy.

“We remain cognizant of the more relaxed stance taken by the MPC over the recent past, as the policy rate was lowered by 350 basis points in 2020, with a view to stir economic activity and support businesses as they were recovering from the down side effects of the lockdown,” he said.

He observed that although the incidence rate of Covid-19 has spiked in the second wave, there has been a radical shift in the response strategy as businesses have found innovative ways of sustaining their operations amidst the pandemic as opposed to closing down.

Mr. Mataa noted that this, coupled with recent International Monetary Fund (IMF) global growth prospects for 2021, has potential to underpin the improvement in domestic economic activity, thereby allowing BoZ some space to focus more on price stability in the medium term.

The Centre for Trade Policy and Development is a not-for–profit, membership based trade policy and development think tank which was established in 1999 and existed as the civil society trade network CSTNZ, until 2009 when it was rebranded as the Centre for Trade Policy and Development CTPD.

The mandate of CTPD is to influence pro-poor trade and investment reforms at national, regional and multilateral levels as well as facilitate the participation of various stakeholders, including member organizations, in ensuring that trade is used as a tool for poverty eradication.

Minister of Agriculture Hon. MICHAEL KATAMBO says government remains committed to regular dialogue with all agricultural stakeholders to ensure the growth of the agricultural industry.

Hon. Katambo says the Ministry of Agriculture will endeavour to ensure that all decisions affecting the agricultural industry are made in full consultation with stakeholders in order to reach consensus in a bid to grow the sector.

Speaking in Lusaka during Virtual Consultative Meeting with the Zambia National Farmers Union (ZNFU), Hon. Katambo said President EDGAR LUNGU has offered unwavering support to agriculture and expects a positive transformation of the sector.

He says the President further expects that the Ministry of Agriculture and stakeholders such as ZNFU implement practical measures that will bring positive change in the lives of small, medium and large-scale farmers in the country.

Hon. Katambo says the government’s strategic focus in 2021 is to implement policy and legislative measures targeted at stimulating the growth of various commodity industries.

Hon. Katambo has further encouraged the Farmers’ Union to continue informing the government on issues affecting the agricultural industry.

And ZNFU President Jervis Zimba says the union is optimistic that the country will have a good harvest this year following the crop that has generally performed well.

Mr Zimba says it is encouraging that most farmers across the country have also done very well in crop diversification.

He has applauded the government for taking deliberate steps to have regular dialogue meetings with stakeholders in finding the best way forward to grow the sector.

The Zambia National Pensioners Association (ZANAPA) is disappointed that its members were left out of the recent pay rise of eight percent awarded to civil servants.

ZANAPA Executive Secretary for Livingstone and Kazungula districts, Patrick Namakando wondered whether the omission was an oversight or due to a policy change by government.

Speaking in an interview with ZANIS in Livingstone, Mr. Namakando said previous salary increments awarded to civil servants under the Patriotic Front government usually included pensioners.

He said he was surprised that ZANAPA members were not included in the last pay rise.

He explained that the increment due to pensioners was facilitated by the Ministry of Finance.

“As pensioners, we would like to find out from the Ministry of Finance, why we have been left out, and when we will receive an increment in our monthly pay,” he said.

Mr. Namakando further said omitting pensioners in the latest pay rise made them feel unappreciated and neglected, despite them offering valuable services to the country in their prime.

He has since appealed to government to empower pensioners and retirees in the same manner other groups such as artists were being empowered to mitigate the impact of the Covid-19 pandemic.

“Other groups are being empowered while, we are left out and as a result, we have pensioners and retirees dying of depression. Government should also empower us since we are not spared from the effects of the pandemic,” Mr. Namakando said.

Mr. Namakando stressed that empowerment of retirees and pensioners was an investment for the country and as such, needed to be treated as a priority.

Ministry of Finance Spokesperson Chileshe Kandeta acknowledged receiving a press query over the pensioners’ complaints but did not respond by press time.