By CHATULA KANGALI –
THE Oil Marketing Companies Association of Zambia (OMCAZ) has described the recent Kwacha gain as real, saying it will help reduce the fuel pump price for this month.
OMCAZ president Kafula Mubanga says the appreciation of the Kwacha will result in the reduction of the fuel pump prices.
Dr Mubanga said in an interview that fuel was the main driver of the economy and that its reduction would have a huge trickle down.
He said the reduction in the pump fuel would trickle down to reducing of prices of commodities such as mealie meal.
Dr Mubanga further said the exchange rate was one major factor in the fuel pricing model and the appreciation of the currency was key in stabilising prices