HH Calls on Businesses to Pass Economic Gains to Citizens

President Hakainde Hichilema has called on the business community to pass on the benefits of Zambia's improving economy to ordinary citizens by adjusting prices in line with the country's strengthening economy.

In a Press Statement issued by State House Chief Communications Specialist Clayson Hamasaka, the President said Zambia has recorded significant progress in stabilising the economy, with inflation declining, the kwacha remaining stable, a bumper harvest, stable electricity supply, and continued reductions in fuel prices.

Mr. Hamasaka said the President noted that these achievements are a result of the hard work of the Zambian people and the Government's disciplined management of the economy.

He said while the country's economic fundamentals have improved, the President observed that many citizens are yet to fully experience these gains in their daily lives.

"The improvements have been too slow to reach the prices citizens pay in shops, at markets and for transport. Where the cost of doing business falls, the cost of living should follow,"

Mr. Hamasaka said President Hichilema reaffirmed Government's commitment to maintaining Zambia as a free market economy, noting that the policy continues to attract investment that is driving the country's economic recovery.

"A free market carries responsibilities as well as freedoms," the statement affirmed.

He said the President expressed confidence that businesses, which had long called for improved macroeconomic stability, would now reflect those gains in their pricing as a matter of good corporate citizenship.

Mr. Hamasaka further said President Hichilema expects the implementation of the 24-hour economy to raise productivity across all sectors, build on the country's stabilised economic fundamentals, and further ease the cost of living for citizens.

"The management of the economy is not a political exercise. It is the daily work of the Government, and it will continue with the same discipline regardless of season."