Govt to curb pricing manipulation
Posté: Sam 7 Jan 2017 09:55President Edgar Lungu will in the next few days intervene in the pricing of mealie meal because of what appears to be manipulation of the market forces.
Special Assistant to the President for Press and Public Relations Amos Chanda says President Lungu is concerned that mealie prices have started rising despite all economic fundamentals such as adequate maize being available.
Mr. Chanda says the President feels the market fundamentals for mealie meal are being manipulated and will be forced to intervene.
And the President has commended KCM and ZCCM for reaching an amicable settlement on debt owed following a court settlement in London.
He said KCM has agreed to settle the debt with the first payment coming in the next few days while the second payment will be next week.
Mr. Chanda says the President has since assured investors in the mining industry and other sectors of a free market economy prevailing.
He adds that the President feels the settlement gives confidence that two parties may reach an agreement amicably.
Special Assistant to the President for Press and Public Relations Amos Chanda says President Lungu is concerned that mealie prices have started rising despite all economic fundamentals such as adequate maize being available.
Mr. Chanda says the President feels the market fundamentals for mealie meal are being manipulated and will be forced to intervene.
And the President has commended KCM and ZCCM for reaching an amicable settlement on debt owed following a court settlement in London.
He said KCM has agreed to settle the debt with the first payment coming in the next few days while the second payment will be next week.
Mr. Chanda says the President has since assured investors in the mining industry and other sectors of a free market economy prevailing.
He adds that the President feels the settlement gives confidence that two parties may reach an agreement amicably.