Fuel pump prices increase
THE Energy Regulation Board (ERB) has increased the pump prices of petroleum products by K2.73 per litre for petrol, K2.81 per litre for diesel and K2.32 per litre for kerosene.
Further, the ERB has adjusted upwards the posted airfield price (PAP) of Jet A-I at Kenneth Kaunda International Airport by K2.71 per litre.
Speaking during the monthly price review, ERB board chairperson Reynolds Bowa said the exchange rate and international oil prices has resulted in the upward adjustment in the prices for petrol, diesel, kerosene and jet A-I which were all above the 2.50 percent wholesale price trigger band.
“During this price review period, the exchange rate depreciated from K17.61/US$ to K18.90/US$, representing 7.33%. The depreciation was mainly attributed to extended timeline in the discussions to restructure the external loans, resulting in reduced supply of foreign exchange on the market against increased demand,” he said.
Engineer Bowa said the price changes will take effect midnight.
Meanwhile, the board has dismissed reports of widespread petroleum shortage, adding that two oil marketing companies had a challenge with distribution of the commodity.
He said an investigation conduct by the board on 190 service stations countrywide revealed that the companies had challenges with petrol.
He however assured the nation that the board has written to the the companies and action will taken to adress the matter.
(Mwebantu, Tuesday, 31st January, 2023)
US Govt releases USD$16million toward corruption fight
UNITED States Vice President Kamala Harris has announced that more than USD$16 million has been released towards the fight against corruption and other reform programs.
Ms Harris said the US is keen on helping accelerate the fight against corruption to help pave way for democracy to flourish.
Speaking at State House today, Ms Harris said the strong ties between Zambia and the US will continue and those include the fight against corruption .
“Democracy is a priority for the United States. We have released more than USD$16 million for programs including anti-corruption and other reform programs,” she said.
She commended President Hakainde Hichilema for the strides being made in the fight against corruption as well as debt restructuring.
“We will quicken the debt restructuring and we advise other bilateral official creditors to have meaningful debt restructure for Zambia as well,” she said.
And Mr Hichilema said Zambia values the bilateral relationship held with the US and will ensure to maintain the good historical friendship.
He noted that Government priority is to rebuild the economy.
“What is keeping us down is debt over hung. It is contributing towards the affected foreign exchange market prices and so we are pushing to unlock that so that we create more jobs and more businesses,” he said.
Mr Hichilema further reiterated that Zambia will continue upholding good governance and also stated that Zambia is a democracy by choice and not through persuasion.
(Mwebantu, Friday, 31st March, 2023)
(Picture by Munati TV)
US Veep to hold bilateral talks with President Hakainde Hichilema
MINISTER of Foreign Affairs and International Cooperation Stanley Kakubo says Vice President of the United States of America Ms Kamala Harris is today expected to embark on her official visit to Zambia from today to 1st April 2023, accompanied by the Second Gentleman, Mr Douglas Emhoff.
Mr Kakubo said Vice President Harris will hold a bilateral meeting with President Hichilema, which will focus on important matters of mutual interest at bilateral, regional, and global levels, including democracy, food security, and sustainable economic growth.
He said the Vice President’s visit will serve to advance US efforts to expand assistance to Zambia in accessing the digital economy, supporting climate change adaptation and resilience, and strengthening business ties and investment, including through innovation, entrepreneurship, and economic empowerment of women.
“President Hichilema has been driving the country’s bold and ambitious economic development agenda, and this visit will solidify Zambia’s partnership with the United States, while exploring new areas of cooperation in identified sectors that will accrue tangible benefits to the people of Zambia,” he said.
Mr Kakubo said the increased high-level visits by foreign leaders and dignitaries to Zambia serve as a testament to the renewed confidence the international community has in the country’s current leadership.
“These visits are crucial and demonstrate Zambia’s standing as a preferred investment destination. The country is open to collaborative partnerships, and the international community has shown willingness to work with the government in various areas such as health, education, agriculture, mining, water and sanitation, energy, and tourism,” he said.
(Mwebantu, Friday, 31st March, 2023)
Dr. Nevers Mumba says the discussion and debate on democracy is long overdue
MOVEMENT for Multi-Party Democracy (MMD) president Nevers Mumba says the discussion and debate on democracy is long overdue and has since commended the co-hosting of the summit in Zambia.
He has however advised the western world not to use democracy as a pipeline to impose certain values against the country’s norms.
Dr Mumba has since challenged the western world to respect the county’s cultural, religious, christian and social values.
The politician, who is also a former vice president, said during the sidelines of the summit, there is a lot of business with the western world to help propel development and that is why the business should not be hindered by other agendas.
“We think the discussion and debate on democracy is long overdue. Africa is ready to take on this debate. What we are against is interference from the western world or anywhere. We do not want democracy to be used as a pipeline to impose certain values. If this continues, there will be a huge divorce from the pipeline,” he said.
Dr Mumba said a strong partnership with the western world will continue but that they should respect the country’s cultural values.
“We have a lot of business of Democracy and we remain committed, but we do not want anything to come in between that,” he said.
(Mwebantu, Thursday, 30th March, 2023)