SPECIAL Assistant to President Hakainde Hichilema for Policy Compliance Joseph Lungu is right to attribute economic factors like declining inflation and the stabilised Kwacha that has triggered price reductions to government policy consistency.
From the onset, the United Party for National Development (UPND)government under President Hichilema set out to stabilise and revive the Zambian economy, among other policies, in order to improve service delivery and social welfare.
In fact, Consumer Unity and Trust Society has welcomed the price reductions in certain commodities and commended manufacturers for responding positively to the improving macro-economic environment.
We are told that about 30 local manufacturing companies have responded to the country’s current wave of economic gains by reducing the prices of their goods by up to 20 percent.
Zambia Association of Manufacturers also confirmed that some companies have implemented immediate price reductions, responding to a strengthening Kwacha and easing inflationary pressures.
What is gratifying is that, by that development, the private sector will be passing on the benefits of improving macro-economic conditions to the public.
If 76 percent of manufacturers have adjusted their pricing structures as indicated by a survey that was conducted recently, consumers are expected to see price drops.
This is a positive move, especially that Government has been calling businesses to consider slashing prices for their goods as a pass-on to consumers.
When prices fall, the ripple effects extend far beyond individual pockets; they strengthen the entire fabric of the community. Price drops are not merely an economic event; they are a social good.
They empower households, energise local businesses and nurture a more inclusive and resilient community.
When prices fall, the entire community benefits.
Lower costs on essentials like food, fuel and medicines ease the burden on families, allowing them to stretch their budgets further and live with less financial stress.
Affordable goods mean more households can meet their basic needs, reducing inequality and fostering social stability. Price drops also energise local commerce, consumers spend more, small businesses see higher sales, and jobs are sustained.
This cycle of affordability and activity strengthens the local economy. Moreover, competitive pricing encourages producers to innovate, ensuring better-quality goods at lower costs.
Ultimately, falling prices are more than an economic shift; they empower households, stimulate business and nurture a stronger, more inclusive community.
We would like to call upon more manufacturers and traders alike to come on board to reduce their commodity prices on items that are highly consumed by many Zambians.
To an ordinary Zambian, the impact may not be felt much as long as prices of items like bread, mealie meal, cooking oil and sugar are not reduced.
In essence, every price cut on essentials is more than economic relief; it is an investment in human dignity, community resilience, and long-term prosperity.
There is room for further reduction in prices on basic needs, considering the UPND New Dawn government’s relentless efforts to improve lives among Zambians.
When prices fall, consumers rise
SPECIAL Assistant to President Hakainde Hichilema for Policy Compliance Joseph Lungu is right to attribute economic factors like declining inflation and the stabilised Kwacha that has triggered price reductions to government policy consistency.
From the onset, the United Party for National Development (UPND)government under President Hichilema set out to stabilise and revive the Zambian economy, among other policies, in order to improve service delivery and social welfare.
In fact, Consumer Unity and Trust Society has welcomed the price reductions in certain commodities and commended manufacturers for responding positively to the improving macro-economic environment.
We are told that about 30 local manufacturing companies have responded to the country’s current wave of economic gains by reducing the prices of their goods by up to 20 percent.
Zambia Association of Manufacturers also confirmed that some companies have implemented immediate price reductions, responding to a strengthening Kwacha and easing inflationary pressures.
What is gratifying is that, by that development, the private sector will be passing on the benefits of improving macro-economic conditions to the public.
If 76 percent of manufacturers have adjusted their pricing structures as indicated by a survey that was conducted recently, consumers are expected to see price drops.
This is a positive move, especially that Government has been calling businesses to consider slashing prices for their goods as a pass-on to consumers.
When prices fall, the ripple effects extend far beyond individual pockets; they strengthen the entire fabric of the community. Price drops are not merely an economic event; they are a social good.
They empower households, energise local businesses and nurture a more inclusive and resilient community.
When prices fall, the entire community benefits.
Lower costs on essentials like food, fuel and medicines ease the burden on families, allowing them to stretch their budgets further and live with less financial stress.
Affordable goods mean more households can meet their basic needs, reducing inequality and fostering social stability. Price drops also energise local commerce, consumers spend more, small businesses see higher sales, and jobs are sustained.
This cycle of affordability and activity strengthens the local economy. Moreover, competitive pricing encourages producers to innovate, ensuring better-quality goods at lower costs.
Ultimately, falling prices are more than an economic shift; they empower households, stimulate business and nurture a stronger, more inclusive community.
We would like to call upon more manufacturers and traders alike to come on board to reduce their commodity prices on items that are highly consumed by many Zambians.
To an ordinary Zambian, the impact may not be felt much as long as prices of items like bread, mealie meal, cooking oil and sugar are not reduced.
In essence, every price cut on essentials is more than economic relief; it is an investment in human dignity, community resilience, and long-term prosperity.
There is room for further reduction in prices on basic needs, considering the UPND New Dawn government’s relentless efforts to improve lives among Zambians.