Fuel price to reduce by June

 Fuel price to reduce by June

The UPND says it is expected that fuel prices will reduce as various energy reforms are being applied in order to reduce fuel prices and make the sector more viable.

UPND Energy Committee Member Noel Nkhoma explains that as part of reforms, government announced that it will no longer participate in the supply of oil but will be a regulator to encourage more private sector participation and in turn influence reduced prices.

Mr Nkoma said government has also invested in fuel reserves to ensure that the country has enough stocks to cushion it from external factors that influence price increments.

He said the current fuel prices being experienced are being influenced by various factors which include the war between Russia and Ukraine.

Mr Nkhoma said the UPND is in line with the party manifesto and is implementing long-term measures that will benefit the economy.

He said the removal of fuel subsides was done because it was not beneficial and it has left government in a 700 million dollars debt to oil companies.

Speaking during a media briefing in Lusaka yesterday, Mr Nkoma said the UPND administration inherited an economy in distress and is determined to reboot the economy.

Alice Nachilembe

https://tiozambia.com

Alice Nachilembe is a Journalist who yearns for a better country with leaders being accountable to their mandate without oppressing the governed.