A Governance expert has called for a balanced approach that considers both producer’s and consumer’s interests to ensure that the Kwacha appreciation benefits are shared equitably.
In an interview with Lusaka Star, Dr. Noel Chisebe said government needs to ensure that producers pass on the benefits of the Kwacha appreciation to consumers.
“Government should ensure that regulatory agencies like the Zambia Consumer Association (ZACA) and the Competition and Consumer Protection Commission (CCPC) are actively involved in monitoring market behavior and patterns to prevent unjustified price rigidity,” Dr. Chisebe said.
He added that businesses should be encouraged to revise their pricing models downwards,reflecting reduced costs which would help maintain consumer welfare and trust in the private sector.
Meanwhile, an Economist Yusuf Dodia said the idea of uniform prices on commodities will kill competition among businesses bringing the countries economy to a stand still.
He emphasized the need to address local economic barriers that make it difficult to see the kwacha appreciation benefits in terms of prices on commodities.
“While the prices of imported goods is dropping,prices of locally manufactured goods remains the same due to fuel prices and electricity supply slowing production rate of goods,”Mr. Dodia said.