Policy Analyst and Academician Kelvin Chibomba has expressed concern over the Zambian government’s failure to establish bulk fuel reserves, a step he believes is critical for economic stability.
Reacting to a recent advisory from the International Monetary Fund -IMF-which recommended that the government reduces fuel prices and allow all suppliers access to the TAZAMA Pipeline, Mr Chibomba is of the view that while the IMF’s advice is progressive, it is not enough without the establishment of strategic fuel reserves because the absence of such reserves has inflicted enormous harm on the economy, leaving the country vulnerable to fuel shortages and price volatility.
In an interview with Phoenix News, Mr Chibomba has urged government to prioritize this infrastructure to enhance national resilience against energy disruptions and stabilize the economy in the long term.
He has further stressed the need for a more comprehensive approach to fuel management, suggesting that reserves would help safeguard Zambia’s economic interests and reduce reliance on external factors.
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