OIL Marketing Companies Association of Zambia (OMCAZ) president Dr Kafula Mubanga says the Kwacha appreciation is expected to have a positive impact on fuel prices in the next price review. But Economist Dr Lubinda Haabazoka says the appreciation of the Kwacha will not impact the fuel pump prices. Over the past few days, the local currency has been appreciating against other major convertibles, although yesterday’s Bank of Zambia rates showed that the Kwacha had slightly depreciated. As at 09:30 hours the dollar was buying at K22.7128 and selling at K22.7628 but by 12:30 the dollar was buying K22.7266 and selling at K22.7766. In an interview, Wednesday, Dr Mubanga said the association anticipated a K5 reduction of the pump prices. “As...
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