FORMER Bank of Zambia governor Christopher Mvunga has backed Dr Denny Kalyalya’s statement on the removal of fuel and electricity subsidies, saying continuing with the status quo will spell doom for the economy. Bank of Zambia governor Dr Denny Kalyalya recently said there was need to have an administrative adjustment in fuel pump prices and electricity tariffs to avert future challenges in the sectors. Commenting on Dr Kalyalya’s remarks in an interview, Mvunga said the Bank of Zambia governor was in order when he made that statement as the government spends almost US$30 million on subsidies every month. “The governor is in order. And the fuel and whatever, they need to remove the subsidies otherwise the economy is not moving…....

To continue reading this premium content, login to your account or Subscribe to our ePaper using the buttons below.
Log In Subscribe