The Energy Regulation Board-ERB- has disclosed intentions by government to issue a Statutory Instrument-SI- on the pricing rules for petroleum products in Zambia.
ERB Director General Elijah Sichone has told Phoenix News that the new statutory instrument is intended to stabilize both wholesale and retail pricing to prevent disruptions in sector performance.
Mr. Sichone explains that the statutory instrument will legally enforce the current ERB pricing framework, to ensure predictability and transparency in pricing processes.
He further states that the rules would be focused on sector-specific pricing, with the aim of promoting investment while addressing efficiency concerns, thereby creating a competitive market that attracts investment and supports the sector growth.
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