ZACCI welcomes increased power tariffs but…

The recent increment in electricity tariffs is a double-edged sword which will attract international investors in the energy sector while at the same time injure the Zambian firms, says Zambia Chamber of Commerce and Industry president Geoffrey Sakulanda.

Mr Sakulanda said with the latest increase in power tariffs the cost of doing business would inevitably rise.

He said commercial consumers will be paying substantially high costs for power which might affect production and lead to job losses.

Mr Sakulanda was commenting on the recent upward adjustment of ZESCO electricity tariffs for customers in various categories from an average of 37ngweeb to 1.13 per kilowatt hour.

The tariff adjustment was however expected to generate US$3.7 billion investment in generation projects by adding capacity of 1500 megawatts to the national grid.