I came across this comment in the Times of Zambia by a "concerned citizen" (whatever that means) :
"The increase in fuel prices by the Energy Regulation Board (ERB) last week cannot be blamed on the Government. The price of the same commodity has been upped on the world market and with the depreciation of our Kwacha the increase was unavoidable. Painful though it is, it is important sometimes to live in reality than artificial world were you move with time. Once the Kwacha stabilises we expect a reduction in the price of fuel without delay. Traders and all those who will increase prices of their goods and services are equally expected to swiftly reduce without much ado. With the coming of more dollars from the newly subscribed Eurobond we anticipate the Kwacha to gain"(Source : Times of Zambia)
When I first read this, I thought it was a foolish comment. But then I remembered that the comment is entirely logical if one believes that the depreciation of the Kwacha has nothing to do with GRZ but is purely due to global factors [as PF supporters have long argued].
In his world government is the hero that will deliver low prices when the Kwacha allegedly becomes stronger, against the odds. Its analytical comedy, but many people hold that position. So "concerned citizen" is being entirely consistent. To be clear, he is being "foolishly consistent". But consistent nevertheless. We have to give him that!
Chola Mukanga | Economist
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