Think twice’, Matayachalo fears job losses over fuel price hike, urges govt to review strategy

Chama North law maker Yotam Mtayachalo has said the government should revert to quarterly pump price review.

Mtayachalo said the incessant increase in the cost of fuel on monthly basis by the Energy Regulation Board (ERB) if not checked shall lead to massive job losses in the mining and manufacturing industries.

He observed in a statement on Thursday that this would exacerbate the already high poverty levels prevailing in the country.

“We have several times advised the new dawn government to re-think twice whether the monthly fuel review mechanism being undertaken by ERB is in national interest or not but the advise has continued to fall on deaf ears,” Mtayachalo said.

He added that the government must also be mindful that the mining industry which is a life blood of the Zambian economy consumes a lot of fuel and electricity adding if the trend remains unchecked it might affect mining operations and thereby lead to massive job losses.

Mtayachalo further said bringing in of finished petroleum products into the country following the closure of Indeni Petroleum Refinery in Ndola would have negative consequences on the petroleum sub sector.

“Fellow country men and women it is important to note that the American government has spent $5trillion on fossil fuels between 2010 and 2021, while Saudi Arabia spends $60 billion, the Islamic Republic of Iran spends about $100 billion, Nigeria spends $10billion while Angola our neighbor spends $3.5billion on fuel subsides annually even when these countries have higher per capita incomes than Zambia,” he said.