UNITED Party for National Development leader Hakainde Hichilema says the fuel pump price hike signifies an economic collapse that will inflict more pain on the Zambians in terms of survival.
Mr. Hichilema said as a result of poor planning and maintenance of ZESCO generation equipment, the PF government was currently implementing unprecedented levels of electricity loadshedding.
“This recent fuel pump price hike signifies an economic collapse that will further inflict more pain to our people in terms of survival,” Mr. Hichilema said in his facebook posting.
“This is despite supposedly having injected huge amounts of borrowed Eurobond money into ZESCO.”
He said as an alternative measure, Zambians at various levels from domestic to industry had resorted to using alternative electricity sources such as gensets that used fuel for production.
Mr. Hichilema said the machines used fuel, which the PF had now increased the price of precisely when one would have expected a reduction.
He said the fuel price increase would mean a further reduction on economic activities as production costs would escalate further.
“This situation will automatically lead to price increases on all goods and services, causing a further rise to the already very high cost of living,” Mr. Hichilema said.