By Daily Revelation Reporter
The Zambia Association of Manufactures says they will be left with no option but to pass on the burden on the rise in production following the very steep fuel prices under President Hakainde Hichilema.
In a statement, ZAM president Ashu Sugar argued that the rise in fuel pump prices is affecting the manufacturing sector through distribution costs, saying this was very concerning
“The ZAM President said manufacturers will no option but to pass on the burden to consumers who will in turn have less disposable income,” ZAM stressed in a statement issues by chief executive officer Muntanga Lindunda. “He said the instability in the Zambia’s exchange rate is also affecting manufacturers that import raw materials for value addition in Zambia.”
ZAM argued that a long term solution should be that the Clcountry moves away from dependence on copper but take advantage of the central location to become a major value addition hub for the region.
ZAM argued that the ability for Zambia to be a food basket for the region should not be underestimated
