The Centre for Trade Policy and Development (CTPD) is of the view that the recently announced four hour Load shedding by ZESCO is going to contribute to further economic deterioration.
CTPD Executive Director Isaac Mwaipopo says the biggest losses of the load shedding will be made by the Micro, Small and Medium Enterprises (MSMEs) whose businesses are highly dependent on a steady supply of electricity.
Mr. Mwaipopo says it is sad that this is happening at a time when the country should be making all efforts to find ways and means to save the economy.
He explains that an immediate consequence of this will be a reduction in productivity in businesses, which will result in even slower economic growth considering the significant role played by small scale businesses.
The Executive Director has therefore urged government to seriously consider relooking at its energy sector investment strategy as the current strategy is not helping the country to avert the effects of power deficits caused by poor rainfall.
Mr. Mwaipopo says other alternatives will be to consider investing heavily in solar energy and Biofuels as these will not only be cheaper but will also be more sustainable.
ZESCO announced that it will commence daily four-hour load shedding starting from 1st June 2019 due to low water levels in the major water reservoirs in the country.