THE fuel pump prices remained constant this year for the government to cushion consumers against price shocks and not because it was an election year, the Energy Regulation Board (ERB) has said.Finance Minister, Situmbeko Musokotwane announced that the previous Government deliberately froze the increment of the pump price because it was an election year despite fundamentals demanding a hike.But ERB, acting Director for Consumer and Public Affairs, Nasima Shaikh said in answer to a press query that the fuel price remained constant this year to cushion consumers against the shocks from the continued adverse movements.Ms. Shaikh said the adverse movements that progressed from 2020 to 2021 in the key pricing fundamentals which are international oil prices and the exchange rate led to the price remaining constant to ease the price shocks on consumers.She said the fuel price remained constant despite an upward adjustment in the wholesale price affected due to the removal of Value Added […]
Polls had nothing to do with non-increment of pump price – ERB
