ZESCO Tariffs Revert to Old Charges
President Edgar Lungu has directed ZESCO and ERB to ensure that the new Tariffs be squashed and the old Tariffs apply.
The President has paid attentively to the cries of Zambians who felt the pain of the 300% Tariff 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 Tariffs are the lowest in the region at $3cents- $6 cents and to attract investment in the sector government needed to raise and approve the Tariff to cost reflective costs with a minimum and initial charge of $10.5 cents.
As a country we are facing the worst set of crisis, the load shedding is the worst in the last 50 years, our copper prices are the lowest in the last 10 years, 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 has got imposed austerity measures.
So the cry by our people over ZESCO tariffs is genuine more so the immediate response by the President to ensure that ZESCO reverts to the old charges is commendable.