Economic Expert, Boniface Zulu says the creation of adequate fuel reserve capacity is crucial to ensuring that the country moves to the quarterly fuel price review.
Mr. Zulu says the lack of sufficient reserve capacity could be the reason government is still reviewing fuel prices monthly.
Speaking in an interview with RCV News in Lusaka, Mr. Zulu however stressed the need for government to instead adopt the quarterly fuel price review, to promote stability in the economy.
“The quarterly price review will also create a buffer against fluctuating international oil prices, exchange rate and geopolitics that play a critical role in the pump price,” said Mr. Zulu.
Mr. Zulu also addressed the potential challenges of implementing the quarterly system, urging government to consider reintroducing fuel subsidies as a temporary measure if the transition proves unfeasible.
Melissa Zaza
