President Hakainde Hichilema has tasked newly appointed Permanent Secretary at the Ministry of Energy, Peter Mumba, to come with a more stable fuel price review period.
Hichilema noted that the current monthly review of fuel prices was pushing the cost of living high, inflation and commodities on the local market.
The Head of State said this when he swore in Mumba as Permanent Secretary in the Ministry of Energy at State House in Lusaka on Monday.
He said there was need to come up with more favourable policies in the energy sector which would attract investment and also reduce the red tape involved in issuance of licences for Oil and Gas exploration.
“The energy sector is a very important sector to the economy and stability is required in this area as any changes in policies affect the wellbeing of the economy,” Hichilema said.
He said Mumba should utilise his experience and ensure that the fuel import bill was also dealt with because it was causing alot of economic problems.
“We expect that the changes in the energy sector to be made, we expect the energy sector will start moving in the direction as intended by the new dawn Administration,” Hichilema said.
He noted that there was a lot of power purchase agreements which had been signed by Zesco but yet to materialize and that this must be looked into.
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