By JOHN KOMBETHE reduction of the fuel pump price is not backed by key economic indicators such as the current exchange rate and crude oil prices, Green Party president, Peter Sinkamba has said.In an interview, Mr. Sinkamba observed that the current exchange rate and the price of crude oil on the world market had gone up and as such the reduction of fuel was not logical.He was commenting on the recent announcement of the reduction of fuel pump price by the Energy Regulation Board (ERB).He pointed out that the price of fuel was raised at a time when the Kwacha was trading at around K17.00 to a dollar and the crude oil price was lower.He therefore wondered how the pump price could come down when these two key indicators had gone up.Mr Sinkamba noted that the reduction of the fuel pump price must have been prompted by other factors that need to be probed.He said […]
Fuel price reduction ‘fishy’ – probe necessary, says Sinkamba
