…As ZAM proposes solutions….
Lusaka, Saturday (February 3, 2024)
Zambia Association of Manufacturers – ZAM President Ashu Sagar says manufacturers in Zambia are concerned with the rise in fuel pump prices.
Mr. Sagar said the rise in fuel pump prices is affecting the sector through distribution costs.
The ZAM President said manufacturers will no option but to pass on the burden to consumers who will in turn have less disposable income.
He said the instability in the Zambia’s exchange rate is also affecting manufacturers that import raw materials for value addition in Zambia.
Mr. Sagar said a long term solution should be that the Country moves away from dependence on copper but take advantage of the central location to become a major value addition hub for the region.
He said the ability for Zambia to be a food basket for the region should not be underestimated.
Mr. Sagar said this when he featured on the Diamond TV Breakfast Show on Friday.
This is contained in a statement issued by ZAM Chief Executive Officer Muntanga Lindunda.