Reduce price of Mealie Meal or else government will control it - Sata

By John Chola - 

27/12/12

Zambia’s President Michael Sata has warned that his government will introduce price control for mealie meal if millers continue exploiting consumers with high prices.

And Mr. Sata warns further that his government would not hesitate to withdraw millers’ licenses if they continue exaggerating mealie meal prices.

He was speaking today at State House when he swore in Kabompo East opposition MMD Member of Parliament Danny Chingimbu as deputy minister for Lands and Natural resources at State House this morning.

Mr. Sata observed that millers were to blame for the current high prices of the country’s staple commodity.

Zambia has in recent months recorded frequent sharp increase in the retail price of mealie meal.

Mealie meal prices have risen from as low as K45, 000 to over K70, 000 in certain places.

The President says the price of a 25 kilogram bag of breakfast mealie meal should not cost beyond K50, 000.

The prices of mealie meal have risen against the availability of sufficient maize in the country.

The Food Reserve Agency has sufficient stocks of Maize lying in its storage facilities dotted around the country.

The rise in mealie meal prices has cause sharp resentment against the government among Zambians.

End.

Twenty-four days before commissioning part of rebased currency in.

By John Chola - December 7, 2012. The Bank of Zambia has received some of the new rebased currency.

Bank of Zambia currency rebasing manager Morris Mulomba said commercial banks have also started testing their machines to start discharging the new Kwacha and coins.

Mr Mulomba said the Central Bank has received some of the K2 and coins from minters of South Africa. The rebased money should be in circulation in the next 24 days. Mr Mulomba was speaking in Lusaka at a media briefing.