The Zambia Association Manufacturers (ZAM) is calling for immediate measures that will ensure predictability of fuel pump prices to prevent the manufacturing sector from sliding into economic shocks.
And ZAM has reiterated that the continued increase in fuel pump prices has an adverse impact on the cost of production for the sector.
Reacting to the upward adjustment in fuel pump prices as announced by the Energy Regulation Board (ERB) adjustment in the February monthly fuel were the price of petrol has been increased by K2.73 and diesel by K2.81, ZAM Chief Executive Officer Muntanga Lindunda says manufacturers depend on fuel as a key component in production of goods and services and any slight upward adjustment has a huge bearing on the cost of production and exerts pressure on most manufacturers to remain afloat.
Ms. Lindunda has told Phoenix News in an interview that although manufacturers may not with immediate effect increase the price of goods and services, in the medium and long term, the price of commodities may escalate unacceptably high.
