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Zambia’s policy inconsistencies ‘scaring away investors’

A Zambian economist, Cosmos Musumali, has warned the ruling Patriotic Front (PF) that its policy inconsistencies are scaring away possible investors and making Zambians feel uneasy, reports the Post.

This comes after the ruling government’s plan to re-implement state-owned power company, Zesco’s and the Energy Board’s previous tariffs because citizens complained that the tariffs were too high.

Musumali’s assessment was that while it may be lighter on citizen’s pockets, the move reflected inconsistencies in expected policy.

President Edgar Lungu last year gave the Energy Regulation Board (ERB) the green light to hike Zesco’s tariffs by 300%.

The decision to revert back, Musumali said, indicated “…a vicious cycle of indecision and utter confusion under the PF government and the medium and long-term interest of this country is a disaster”.

“People who were thinking this PF government is a listening government should now know that it’s not; it’s a government that is acting on impulse,” Musumali adding that the PF had no vision.

The announcement to revert back to old tariffs came just shortly after the Southern nation President announced that presidential and parliamentary elections will be held on the 11th August under a new constitution.

The elections are expected to be a tight contest between Lungu’s ruling Patriotic Front (PF) party and opposition leader Hakainde Hichilema’s United Party for National Development (UPND).

Source: News24

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