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HomeUncategorizedHad Zambia not abandoned the biofuel project in Luapula, the fossil fuel price hike effect would have been moderated

Had Zambia not abandoned the biofuel project in Luapula, the fossil fuel price hike effect would have been moderated

By Philip Sinkala Sunbird Group has revealed that Zambia’s failure to implement a mandatory fuel blending policy is currently bleeding the national treasury of over US$120 million in potential annual savings from the massive petroleum import bill of up to US$700 million to 1 billion per year. Speaking in an exclusive interview with Zambian Business Times – ZBT, Sunbird Group Chief Executive Officer, Richard Bennett indicated that this huge expenditure on imported fuel remains a primary driver of domestic inflation, yet the solution has been paralyzed for over 10 years. A check by the Zambian Business Times – ZBT revealed...

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