State house is disappointed that despite government putting in place measures to stabilize commodity prices, manufacturers have not reduced prices to reflect the country’s improving economic conditions.
State house Chief Communications Specialist Clayson Hamasaka tells Phoenix News that government is concerned that while key economic indicators have strengthened, consumers are still not seeing lower prices for goods and services.
Mr. Hamasaka has noted that while Zambia operates a free-market economy and government does not control prices, authorities have instead been appealing to businesses to pass on the benefits of stable inflation, a steady exchange rate, and improved GDP performance to the public.
He added that government has taken steps to cushion citizens against rising costs, including removing duties on some products, amid challenges in the global fuel market caused by external factors beyond the country’s control.
Zambia Association of Manufacturers-ZAM- president Mohammed Umar is yet to respond to a phoenix press query on the matter.
-PHOENIX NEWS