The Zambian government said it had decided to lift the s ubsidy on fuel because it needed to channel its resources to other pressing but equally important sectors for developmental projects.
Minister of Finance and National Planning Situmbeko Musokotwane said government had been spending a lot of money on subsidising fuel at the expense of other projects, the state-run Zambia Daily Mail reported Tuesday.
”Government cannot afford to continue subsidising the commodity because it has other pressing issues that need attention,” the minister said.
Musokotwane said many development projects need financing and that the move to s top subsidising fuel will help to finance them.
He, however, said government would ensure that the price of fuel is reasonable.
Last week, the price of fuel was increased by over 13 percent.