The Zambia National Marketeers Credit Association (ZANAMACA) has commended government, through the Energy Regulation Board (ERB), for the downward adjustment in fuel pump prices for the month of July.
Yesterday, the ERB announced a reduction in fuel prices, with petrol decreasing from K31.36 to K28.00 per litre, and diesel from K25.12 to K23.13 per litre.
ZANAMACA President Mupila Kameya said the downward adjustments will have a significant impact on both the informal and national economy.
Mr. Mupila in a statement issued to RCV News in Lusaka today, said that he is optimistic that the downward adjustment will result in reduced business operational costs, lower prices of consumable goods, increased market access for farmers as well as enhance the mobility of its members using public transport.
He said this will also foster entrepreneurship, inflation control, stimulate economic growth, improve logistics and supply chains as well as increase consumer confidence.
Mr. Kameya noted that the downward adjustment will be key in alleviating financial pressures on marketeers who are from low-income households.
By Margaret Mwanza
