PARLIAMENTARY COMMITTEE VISITS ZRL TO APPRECIATE THE IMPACT OF MONTHLY FUEL PRICE REVIEWS ON THE COMPANY
PARLIAMENTARY COMMITTEE VISITS ZRL TO APPRECIATE THE IMPACT OF MONTHLY FUEL PRICE REVIEWS ON THE COMPANY
The Parliamentary Committee on Energy, Water Development and Tourism on Friday 31st May, 2024.Visited Zambia Railways Limited (ZRL) offices in Kabwe, to appreciate the impact of monthly fuel price reviews on the operations of the company.
And as part of the visit, the Committee also toured ZRL facilities among them the Central Train Control (CTC) and the Zambia Railways Limited Kabwe Main Workshops in Kabwe in order to fully appreciate its operations.
The Committee led by Pemba Constituency Member of Parliament, Hon. Lameck Hamwaata, wanted to find out how the monthly fuel price reviews are impacting on the operations of Zambia Railways Limited.
“In January 2022 the Energy Regulation Board (ERB) reduced the fuel pump price review from 60 days to 30 days for two reasons the first one being that the international price was not stable and the second reason was as a result of the exchange rate, it is on this basis that this Committee has been given the responsibility to undertake the study, meet consumers and players in the sector to understand the challenges they are facing,” Hon. Hamwaata said.
And in welcoming the Committee members, Zambia Railways Limited Acting Managing Director Mr Godfrey Fumbeshi said the visit by the Committee reaffirms the important role that the railways play in the energy sector as well as servicing other critical sectors of the economy and the community at large through the provision of rail and other logistics services.
He added that the interaction is a valuable opportunity for ZRL to provide detailed insights into the company’s fuel consumption pattens for both train operations and other areas where fuel is consumed. And also share the company’s operational and commercial challenges.
“You may wish to know Honorable Members of Parliament, that the New Zambia Railways Limited Board of Directors spearheaded the formulation of the new Strategic Business Plan (SBP) which spells out the direction for the company in the next five years beginning this year 2024 to 2028, we shall definitely avail a copy to you in due course,” Mr. Fumbeshi said.
“Am optimistic that our dialogue today on the important topic of monthly fuel price reviews will lead to positive outcomes, your oversight role, insight and recommendations will be valuable,”.
Meanwhile, speaking when he made a presentation on how the monthly fuel price reviews are affecting the operations of Zambia Railways Limited, Company Corporate Planning Manager Mr. Daniel Longwe said annually the company consumes about 5.4 million litres of diesel to move the trains.
Other members of the Committee included, Shang’ombo Constituency Member of Parliament Hon. Mubika Mubika. Mulobezi Constituency Member of Parliament Hon. Rapheal Mabenga. Mkushi South Constituency Member of Parliament Hon. Davis Chisopa. Mpongwe Constituency Member of Parliament Hon Gregory Nhow
