By Daily Revelation Editor
The UPND administration this week landed two hammer blows on the ordinary Zambians who are suffering greatly by steeply increasing fuel prices and electricity prices.
The highest people will spend on a liter of fuel is now K35.56, while Zesco’s multi-year electricity tariff for retail consumers in terms of metered residential tariffs of kWh rose from 0.40 in 2023 to 0.44 in 2024 and will rise further to 0.54 in 2025, 0.63 in 2026 and 0.73 in 2027. In short, President Hakainde Hichilema’s government has prepared enough in stock to ensure that the punishment on ordinary Zambians continues for years to come.
For those who are thinking that the endurance is but for a brief period, we are sorry to inform you that there is still more punishment coming your way as the government has made that clear by increasing these electricity tariffs in advance. And on this, Zambians must not leave those who are in the opposition off the hook, such that if chance provided and they were elected into power they will want to hide under the government being a going concern and maintain the prices. They must clearly state whether they will revise these punitive hikes, and state clearly how they would go about dismantling them for a win-win situation.
It is clearly insensitive for Hakainde’s administration to increase fuel and electricity prices especially around this time when Zambians are enduring some of the worst cost of living ever experienced in the history of this country. People are moving from one punishment to the other. From the 8-hour daily load shedding to increased fuel and electricity prices, coupled with very high mealie-meal prices. The problems battering Zambians are simply too numerous to mention.
Hakainde during his opposition times dismissed the idea of increasing electricity and fuel prices arguing that doing so only worsened the cost of living. We are wondering what he thinks of the same now, being the President who has ensured over 100 percent escalation in the price of fuel since he came into office, from K17.61 to K35.56 in just over two years. And he has done so while increasing the price of electricity at the same time.
During this period, the price of the staple mealie-meal has escalated from K130 to over K320. And please note, the price did not rise to such highs on account of the drought experienced during the past rain season. These prices started increasing way before the poor rain season even started.
The Kwacha he said would supersonically appreciate during his reign has never really performed well since around October 2022 when it embarked on the ‘auto pilot’ downward spiral. The ERB has referenced the rise in fuel prices to the weakened Kwacha and the rise in fuel prices on the international market. It must be noted that Zambians were deprived of any benefits from the very low international prices on account of the ever weakened local currency that has now become a norm.
This weakened Kwacha is likely to continue afflicting Zambians in a long time to come until the government becomes patriotic enough to get enough from the main foreign exchange earner, the mines, since the production base is lighter years from actively participating meaningfully to have a telling impact on the economy.
Where Hakainde and his Finance minister Situmbeko Musokotwane got this wisdom only peculiar to themselves to reduce mineral royalties on the mines from six percent to three percent, only they know. Very puzzling indeed, especially that copper prices are enjoying some of the best prices on the international market right now, with future projections even better.
There is no country in the world that makes it without utilising its best resource. Fellow copper producers like Chile have learnt how to put good use of their resource endowment.
Related
By Daily Revelation Editor
The UPND administration this week landed two hammer blows on the ordinary Zambians who are suffering greatly by steeply increasing fuel prices and electricity prices.
The highest people will spend on a liter of fuel is now K35.56, while Zesco’s multi-year electricity tariff for retail consumers in terms of metered residential tariffs of kWh rose from 0.40 in 2023 to 0.44 in 2024 and will rise further to 0.54 in 2025, 0.63 in 2026 and 0.73 in 2027. In short, President Hakainde Hichilema’s government has prepared enough in stock to ensure that the punishment on ordinary Zambians continues for years to come.
For those who are thinking that the endurance is but for a brief period, we are sorry to inform you that there is still more punishment coming your way as the government has made that clear by increasing these electricity tariffs in advance. And on this, Zambians must not leave those who are in the opposition off the hook, such that if chance provided and they were elected into power they will want to hide under the government being a going concern and maintain the prices. They must clearly state whether they will revise these punitive hikes, and state clearly how they would go about dismantling them for a win-win situation.
It is clearly insensitive for Hakainde’s administration to increase fuel and electricity prices especially around this time when Zambians are enduring some of the worst cost of living ever experienced in the history of this country. People are moving from one punishment to the other. From the 8-hour daily load shedding to increased fuel and electricity prices, coupled with very high mealie-meal prices. The problems battering Zambians are simply too numerous to mention.
Hakainde during his opposition times dismissed the idea of increasing electricity and fuel prices arguing that doing so only worsened the cost of living. We are wondering what he thinks of the same now, being the President who has ensured over 100 percent escalation in the price of fuel since he came into office, from K17.61 to K35.56 in just over two years. And he has done so while increasing the price of electricity at the same time.
During this period, the price of the staple mealie-meal has escalated from K130 to over K320. And please note, the price did not rise to such highs on account of the drought experienced during the past rain season. These prices started increasing way before the poor rain season even started.
The Kwacha he said would supersonically appreciate during his reign has never really performed well since around October 2022 when it embarked on the ‘auto pilot’ downward spiral. The ERB has referenced the rise in fuel prices to the weakened Kwacha and the rise in fuel prices on the international market. It must be noted that Zambians were deprived of any benefits from the very low international prices on account of the ever weakened local currency that has now become a norm.
This weakened Kwacha is likely to continue afflicting Zambians in a long time to come until the government becomes patriotic enough to get enough from the main foreign exchange earner, the mines, since the production base is lighter years from actively participating meaningfully to have a telling impact on the economy.
Where Hakainde and his Finance minister Situmbeko Musokotwane got this wisdom only peculiar to themselves to reduce mineral royalties on the mines from six percent to three percent, only they know. Very puzzling indeed, especially that copper prices are enjoying some of the best prices on the international market right now, with future projections even better.
There is no country in the world that makes it without utilising its best resource. Fellow copper producers like Chile have learnt how to put good use of their resource endowment.
Related
You can share this post!
Zumani, co-accused demand K200 million for “malicious prosecutions”
Zambians try to but aren’t tribal – Laura
Related Articles
Matambo and alleged bribery by some Mopani officials
Public tenders and ruling parties
Is your life better today than it was…