The opposition FDD says the reduction in fuel pump price by the Energy Regulation Board -ERB will not have any positive impact on the economy as it is very insignificant.
FDD spokesperson Antonio Mwanza says the eight percent and five percent reductions, respectively, are too insignificant to cause any major positive impact on the economy as the cost of essential goods and services, the cost of doing business and the cost of living are expected to continue rising.
The prices of fuel were on October 14, 2016 increased by over 30 percent.
Mr Mwanza says if Government is serious in reducing fuel prices they should have restored the prices to the initial amounts that were there before the increments as that would have had a real positive impact on the economy.
The ERB has announced the reduction in fuel pump prices effective midnight Tesday, January 3, 2016.
ERB Board Chairperson Francis Yamba who announced the reduction said the current fuel consignment was procured at a slightly reduced price compared to the price that necessitated the last hike.
Petrol has rerduced by K1.20 ngwee while diesel has been reduced by 68 ngwee with Kerosene being reduced by K1.22.
Professor Yamba disclosed this at a media briefing in Lusaka.
Fuel Reduction Too Insignificant To Cause Positive Impact on Economy-FDD
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