• Continued monthly revision of fuel pump prices is not only uneconomical but unsustainable to economic development.
• Uncertainty in the pricing model of fuel by ERB is a draw-back, it’s high time we went electronic

Business, Policy and Financial Advisor says Electronic technology for running motor vehicles is the best solution for a landlocked country like Zambia that imports crude oil by road.

Kingford Kalobi tells Money FM News that the continued monthly revision of fuel pump prices by Energy Regulation Board (ERB) is not only uneconomical but unsustainable and detrimental to economic development.

Mr. Kalobi noted the current confusion and uncertainty in the pricing model of fuel by ERB is a draw-back to meaningful national economic development.

He said the nation cannot continue to subject key sectors of the economy such local manufacturing, mining and agricultural to monthly revisions.

“It’s high time we went electronic,” Mr. Kalobi said.

“How do we hope to grow the SME sector with a subjective and unreliable fuel pricing model as has been adopted?”

Mr. Kalobi’s comment came following ERB’s revision, May 31st 2022, of fuel pump prices for petrol upwards K0.80 ngwee per liter, Diesel and Kerosene prices remained unchanged.