CALLS ON GOVT TO REVERT BACK TO QUARTERLY PUMP PRICE REVIEW

By Tinkerbel Mwila /Lukundo Nankamba

The Ndola Chamber of Commerce and industry says the current monthly reviews of fuel pump prices are negatively impacting on the cost of production.

The chamber has since proposed that government reverts back to the quarterly pump price review stating that one month is too short a cycle for businesses to continue adjusting their budgets.

Chamber president Paul Chisunka says the sudden jump in the price of fuel is forcing most businesses to cut down on the volume of production which has an impact on the income generated.

Mr. Chisunka tells Phoenix News that the long-term effects are that operations are becoming less sustainable.

He adds that the 90 days cycle will allow for more preparations for businesses to anticipate any adjustments.

And Energy Expert Boniface Zulu is also calling on government to consider reverting to the old way of reviewing fuel pump prices to ensure a more predictable economy.

Mr Zulu is concerned that if the monthly reviews in fuel pump prices continue, this will affect the economy and will make it difficult for businesses thereby affecting economic recovery.

Leave a Reply

Your email address will not be published.