By IREEN MULENGA
United party for National Development (UPND) spokesperson Cornelius Mweetwa says that Government is expecting to have a reduction in fuel prices by 2023.
Mr Mweetwa who is also Southern Province Minister said that the removal of subsides from fuel and electricity is the available mean of addressing some of the challenges government is facing.
Mr Mweetwa said that by 2023 Government is optimistic to see the exchange rate stabilize and economy begin to function normally.
Speaking yesterday on ZNBC’s Sunday interview, Mr Mweetwa said the grant Zambia received by IMF will help to restructure the economy once the money put to good use.
“The relationship between the money coming into the country and fuel is that the economy begins to function properly, and when it begins to function properly, expect a trickle down effect going to other sectors and people benefits in terms of affording to buy fuel on a cheap price,” he said.
He said Government removal of subsides from fuel is to channel the money to other sector like the CDF so that the local people can benefit by determining developmental priorities in their area.
Mr Mweetwa said the 67 billion dollars Government used to pay every month benefited few individuals hence the need to take the money to social sector so that others can benefit.
