President Hakainde Hichilema has announced the restoration of the excise duty on fuel, starting this month. President Hichilema has observed that Zambia has in the recent past been exposed to global volatility in fuel prices due to geopolitical instability. He has disclosed…

President Hakainde Hichilema has announced the restoration of the excise duty on fuel, starting this month.

President Hichilema has observed that Zambia has in the recent past been exposed to global volatility in fuel prices due to geopolitical instability.

He has disclosed that government took bold steps to stabilise the price of fuel for the citizens, including unprecedented measures such as the temporary removal of taxes on fuel.

The President adds that these short-term measures were designed on the assumption that stability would soon return to the global fuel market.

He was speaking in Lusaka today, when he opened the First Session of the 14th National Assembly, under the theme “Grow Zambia: An Agenda for Inclusive Growth and Opportunity for Every Zambian”.

Mr Hichilema charged that moving forward, government will adopt additional measures to ensure competitive pricing, and security of supply, of petroleum products.

The Head of State said the government will strengthen the management of the TAZAMA open-access system, to ensure that it remains competitive and facilitates the supply of petroleum products at more affordable prices.

President Hichilema stated that the government will review the current Energy Regulation Board (ERB) monthly pricing mechanism as part of its overall objective to establish a secure, predictable and efficient petroleum-supply system.

He pointed out that given the instability in global fuel supply caused by geopolitical tensions, government has resolved that all government institutions will now acquire only electric vehicles.

“We will invest in charging infrastructure across the country, in partnership with the private sector. We urge businesses, cooperating partners and all citizens to join us in this transition to cleaner, more affordable and self-reliant transport,” said President Hichilema.