Explore long- term energy substitution-CTPD

 Explore long- term energy substitution-CTPD

The Centre for Trade Policy and Development (CTPD) has recommended that Government should explore long-term energy substitution initiatives anchored on the use of hydro-electric power and coal in place of petroleum.

The Government has encouraged the use of solar energy to meet some industrial, commercial, and household needs thereby reducing demand for diesel.

CTPD Researcher Wakumelo Mataa has urged Government to consider discovery of options for more consensuses building on key economic reforms to abate the impact.

Mr Mataa said that it would be vital to put in place trade policies that stimulate value addition and the diversified export based which will be driven by increased non-traditional export to support the sustained exchange in flow.

He has observed that premised on upside risks such as rising energy costs, the cost of living will remain high over the foreseeable future.

The organization has said that several reforms have been announced post the August 2021 elections, with the removal of some fuel subsidies being a key highlight in policy conversations and expectedly the development triggered an instantaneous rise in pump prices of fuel and a consequent increase in transportation costs.