Mon. Nov 28th, 2022

By Balewa Zyuulu

Opposition People’s Alliance for Change-PAC- leader Andyford Banda says lack of clear policy direction and immediate energy reforms aimed at addressing the price volatility of fuel prices will adversely affect the economy further.

Mr. Banda tells Phoenix News that although government through Energy Minister Peter Kapala has disclosed plans to purchase the commodity in bulk starting in June this year, the failure to revert to quarterly fuel reviews will hamper the growth development prospects of the economy.

He explains that most private players have failed to adapt to the monthly pricing cycle being implemented by the energy regulation body, as it does not allow consumers to effectively plan for their quarterly transactions thereby causing disruptions in economic activity.

Mr. Banda says government must also urgently prioritize actualizing the removal of middlemen in the oil sector to reduce the cost of the commodity for ordinary citizens.

By editor

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