Meaningless if new petrol, diesel prices fail to impact cost of living, improve lives—Golden Party

Golden Party of Zambia (GPZ) leader, Jackson Silavwe, says the reduction of pump fuel prices for June, 2023 should have a trickle effect on the cost of doing business.

Silavwe said in a live video posted on his social media handle on Wednesday that it would be meaningless if the cost of essential commodities remain high amidst a reduction.

“We welcome the reduction of fuel prices by ERB. We hope that this reduction will translate into affordable cost of living for our people,” Silavwe said.

He expects the price of mealie meal, transport and general services to have a significant reduction.

Silavwe said the cost of doing business for local small and medium businesses needed to be lowered to significant levels.

“We want to see a reduction in bank lending and interest rates to have tangible impact on the economy. We want to see the cost of doing business reduce in tandem with the reduction in the fuel prices so that Zambians feel the impact,” he said.

The ERB has reduced the price of petrol and diesel to K24.4 and K21. 87 respectively.

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