By RUTH YAMBAYAMBA
ECONOMIST Yusuf Dodia has urged Government to put in place short term measures that will cushion the fuel pump prices as Brent crude oil surges towards $100 per barrel to protect citizens from further inflationary pressure.
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He explains that if Zambia continues increasing the fuel prices to suit the international indicators, it will kill the country’s industry and further push citizens under the poverty line.
Brent crude oil price benchmark rose to a 10-month high last week of almost $94 a barrel up from $72 at its lowest point in June, following increasing demand in China and production cuts by Russia and Saudi Arabia.
Mr Dodia says all indicators suggest an upward momentum for the next few months and is a wakeup call for the government to consider shielding citizens from further fuel price hikes.
Mr. Dodia adds that the government has an option to mitigate this by reintroducing subsidies in the short term so that citizens are protected from further inflationary pressure.
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