Mr Banda has also launched the Differed capital contribution scheme with free installation of solar geysers in Lusaka’s Mandevu Township today.
President Banda said the new ZESCO initiatives, will enable residential customers to have their houses connected without paying in cash but in instalments.
The president stressed that the capital contribution costs of between K769,000 and the K2,783,000 will not be paid up front.
Mr Banda added that the capital cost will now be recovered from residential customers in installments that will be paid over a period of 24 months through a prepaid meter system.
He added that this initiative will provide reliable and affordable power in homes without putting much pressure on families adding that all new residences will be connected without payment of capital contribution and solar Geysers will be connected for free.
The President said the introduction of new solar geysers by ZESCO will be connected free of charge to interested residential customers adding that ZESCO will finance the Geyser installation progarmme countrywide.
President Banda has also reduced the reconnection fee for electricity from K767 000 to K21 000 in low cost houses while that of high cost houses has been reduced from over K2 million to K77 000.
The President has said these fees will apply for a period of three years.
President Banda has further said the policy of the MMD government is to ensure that lives of the majority Zambians are improved.
Mr Banda urged people in the country to continue supporting the MMD government because it has delivered on the promises and further appealed for people to consider objectively construction work going on in various sectors of the economy.
President Banda urged citizens that as they go to vote in this year’s elections to bear in mind that his administration has worked hard to reduce poverty ( to deserve another term).
The president however, urged the MMD party to embrace every one as it embarks on the door to door campaigns as it is a peaceful party.
ZANIS