Economist Kelvin Chisanga says the recent appreciation of the Kwacha coupled with a notable reduction in fuel prices presents a strong basis for the reduction of certain key commodity prices across the country.
Mr. Chisanga states that the Kwacha’s strength has lowered some costs on few imported goods and inputs, while fuel reductions have eased transport and production expenses.
He notes that, this is a moment that calls for shared responsibility on both sides, stating that if managed well, it will restore consumer confidence, promote fairness in the marketplace and reinforce the broader national objective of economic stability and inclusive growth
“As government calls on businesses to reflect these positive macroeconomic shifts in their pricing structures, it is justified that essential commodities do receive price adjustments which should pass through effects on both public and private sectors, and that stakeholders should respond in a responsible and transparent manner”, said Mr. Chisanga in a statement issued to RCV News in Lusaka today.
He notes that, these developments among other local interventions have created room for downward adjustments in the prices of essential goods and services, especially in sectors like food, retail, manufacturing and logistics.
Mr. Chisanga has since called on the government to ensure that regulatory agencies are actively involved in monitoring market behavior and patterns to prevent unjustified price rigidity.
By Christabel Kamunu
