By KETRA KALUNGATHE monthly fuel price review if adjusted upwards would kill the manufacturing sector and bring the country’s economy to a halt, ZuyZed Zambia has warned.An energy expert, Johnstone Chikwanda has however welcomed the move, explaining that the monthly fuel price review was commendable and close to reality because it will serve the interests of all stakeholders in the energy sector.But ZuyZed Zambia founder, Evans Ngoma said upwards adjustment of fuel price on a monthly basis would reduce production because locally produced goods would fail to compete favourably with imported goods on the market.Mr. Ngoma said uncertainty would rock the local manufacturing sector and force them to reduce production because of not knowing whether the fuel price for the next month would be adjusted upwards or downwards.He said in an interview that this would then lead to reduced revenue collection on the part of Government because companies would cut down on producing products to […]
‘Upward monthly fuel price review would wreck manufacturing sector’
