President Edgar Lungu has directed Zambia Electricity and Supply Corporation (ZESCO) and Energy Regulation Board (ERB) to ensure that the new Tarrifs be squashed and the old Tarrifs apply.
The development comes after President Lungu paid attentively to the cries of Zambians who felt the pain of the 300% Tarrif increase especially in light of the other prevailing economic factors.
To attend to this 50 year old crisis, Energy experts advised that our energy crisis was historical because Zambia didn't diversify it's energy sources. Further, Zambia's Tarrifs are the lowest in the region at $3 cents - $6 cents.
“As a country we are facing the worst set of crisis, the loadshedding is the worst in the last 50 years, our copper prices are the lowest in the last 10years, the appreciation of the US $ has affected the exchange rate and has knocked our kwacha, we are likely facing the worst drought in 15 years
because of the El-nino weather condition, food prices have been affected since our economy is import based, our Fiscus is in dire stress and got has imposed austerity measures. So the cry by our people over ZESCO tarrifs is genuine more so the immediate response by the President is commendable,” said energy experts.
And Amos Chanda, the Presidential spokesman said the burden on the government following the reduction is expected to be cushioned through new investment that is coming from the solar energy and increased investment in existing hydro power that must come on stream in under four years in the case of hydro and in about 18 months in case of solar energy.
Mr. Chanda added that President Lungu has made it clear that he will be a listening President who will be willing to make adjustments in the event that Zambians feel decisions made by cabinet are hurting them.
“The President wants Zambians to know that he is here to make decisions that will unite Zambia and not breed discontent,” Chanda said.
And Amos Chanda, the Presidential spokesman said the burden on the government following the reduction is expected to be cushioned through new investment that is coming from the solar energy and increased investment in existing hydro power that must come on stream in under four years in the case of hydro and in about 18 months in case of solar energy.
Mr. Chanda added that President Lungu has made it clear that he will be a listening President who will be willing to make adjustments in the event that Zambians feel decisions made by cabinet are hurting them.
“The President wants Zambians to know that he is here to make decisions that will unite Zambia and not breed discontent,” Chanda said.
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