By Jackson MapapayiA financial analyst in Solwezi Dawson Kafwaya has observed that the recent increase in fuel price should have been done gradually.Mr Kafwaya explained that this is order to cushion the negative impact on consumers whose income is minimal.He said government should review its decision to increase fuel prices following the scrapping of the fuel subsidy as the upward adjustment will push the cost of doing business up due to increased transportation costs.He acknowledged the fact that government spends a lot of money on subsidising fuel but that the increase should have been done gradually.He said it does not make sense to remove the subsidy when the same government abolished the fuel levy.“What government was supposed to do was to reintroduce fuel levy and reduce the subsidy gradually so that the heavy price burden on consumers is not suddenly felt,” Mr Kafwaya explained.He said the notion that the increase in fuel prices would only […]
Fuel, electricity prices hike should be gradual -Kafwaya
