Operation Young Vote (OYV) Executive Director, Guess Nyirenda, has commended government for the consistent efforts in reducing fuel prices for the second consecutive month, while also expressing concern over ongoing power outage.
Mr. Nyirenda says the recent reduction in fuel prices, attributed to the appreciation of the Kwacha against the US Dollar and increased supply of foreign exchange on the local market, is a welcome relief to motorists and businesses alike.
“Government’s prompt action in adjusting fuel prices downward demonstrates its commitment to ensuring that Zambians benefit from favorable exchange rates,” said Mr. Nyirenda in a statement issued to RCV News today.
Mr. Nyirenda has also acknowledged Zambia’s successful completion of the third economic review under the International Monetary Fund’s Extended Credit Facility, calling it a key contributor to favorable market sentiment and improved macroeconomic stability.
He, however, warned that these gains are being undermined by the country’s continued struggle with electricity shortages, highlighting the damaging impact of prolonged load-shedding on small and medium enterprises (SMEs), many of which rely more heavily on electricity than fuel to sustain their operations.
“While fuel price reductions and a stronger Kwacha are welcomed developments that can spur growth in sectors like mining, agriculture, and manufacturing, the ongoing electricity crisis risks contradict those gains,” said Mr. Nyirenda.
He has further criticized the lack of transparency from government regarding power shortages, saying recent public assurances that load-shedding would soon end have failed to materialize.
By Margaret Mwanza
