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Translate Kwacha gains, fuel reduction into reduced commodity prices – GPZ

• Fuel reductions and Kwacha gains will be meaningless if the cost of transport, mealie meal, soap, cooking oil remain out of reach.
• GPZ welcomes any attempt by Government aimed at easing the dire economic challenges.
• President Hichilema must avoid the temptation of practicing elite and internationally correct economics.

Golden Party of Zambia (GPZ) has called on government to ensure that downward adjustment in fuel prices for August and September as well as Kwacha gains translate into reduction in commodity prices and the cost of doing business.
Party President Jackson Silavwe said fuel reductions and Kwacha gains will be meaningless to the majority Zambian’s if the cost of transport, mealie meal, and other commodities remain high.
Mr. Silavwe advised government to avoid the temptation of practicing elite and internationally correct economics whilst neglecting the majority local Zambians.
“Translate the fuel price reduction for August/September and the Kwacha gains against major foreign currencies into tangible reduction in cost of goods, services and doing business. As GPZ, we unreservedly welcome any attempt by the Government aimed at easing the dire economic challenges facing our people. Our people as well as local businesses need economic relief no matter how small.”
“Nonetheless, the fuel reductions and Kwacha gains will be meaningless to the majority Zambian’s if the cost of transport, mealie meal, soap, cooking oil remain out of reach for our people. President Hichilema and the new dawn administration must avoid the temptation of practicing elite and internationally correct economics whilst neglecting the majority local Zambians facing the blunt of an unstable economy,” Mr. Silavwe said.
Energy Regulations Board (ERB) has adjusted downwards fuel prices for September 2022, by K1.65 per liter for Petrol, K1.75 ngwee per liter for diesel and K1.72 ngwee per liter for Kerosene.

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