VEEP Emphasizes Need To Stabilize Kwacha

Vice President Mutale Nalumango has emphasized the need to grow the economy and be competitive on the international market in a bid to earn foreign exchange and stabilize the Kwacha.

Speaking in Parliament during the Vice President’s question and answer session, Mrs. Nalumango noted that the Kwacha has been stable for some time now but there is need to put in place measures to stabilize it further.

She could however not state what measures government is putting in place to ensure stability in the exchange rate, as this can best be explained by Finance Minister Dr. Situmbeko Musokotwane.

Mrs. Nalumango was responding to Chinsali Member of Parliament, Kalalwe Mukosa, who wanted to know what measures government has put in place to improve the performance of the Kwacha which has continued to depreciate.

“This question would properly be answered by the Minister of Finance. But I think for a while we have been quite stable. There is need, I know there are many ways in which you can stabilize.”

“But without going into academics and how things are done, monetary issues that people are putting in place, from the political point is that we need to grow the economy and be competitive on the international market so that we are able to earn forex then it makes our Kwacha stronger,” Mrs. Nalumango stated.

The exchange rate has today Friday 15th November 2024, decreased by 0.01% to 27.4168 from 27.4200 in the previous trading session.

Meanwhile, Mrs. Nalumango urged citizens in Chitambo Constituency and other parts of the country not to fight for ZNS’ Eagles mealie meal but consider buying cheaper grain through community maize sales under the Food Reserve Agency, and have it milled at an affordable cost.

She said ZNS has been supplying the mealie meal to selected shops but there are other millers that are also providing the commodity.

“People fight for mealie meal from ZNS because it is cheaper, but I think it is important that people know that there are other shops where even other mealie meal can be found. Yes, there are selective shops, ZNS can’t provide in every shop.”

“Why should people of Chitambo fight for Eagles Mealie meal when in fact, our advice is that in Chitambo we must have community maize sales under FRA. Encourage them to get maize which is cheaper, and they will meal at affordable costs and in the manner that they want it. It will end up to be even healthier, they don’t have to wait for Eagles mealie meal,” she advised.

Mrs. Nalumango was responding to Chitambo Member of Parliament, Remember Mutale, who wanted to find out what government was doing to minimize long queues at ZNS mealie meal selling points in his constituency where people fight for the commodity.