CAMA Predicts Rise in Commodity Prices
Consumers Association of Malawi (CAMA) says Malawians should brace for more economic hardships following the prospected rise in prices of petroleum products as announced by the Malawi Energy Regulatory Authority (MERA).
CAMA Executive Director, John Kapito, says they have written government to consider removing levy on road and electricity usage to cushion consumers from such challenges.
"Fuel prices will trigger prices indeed but we have written government to consider the removal of certain levies," noted Kapito.
An economic expert, Betchani Tchereni, says the rise in the prices is valid with the country having little funds to stabilize the current prices.
"This rise in the prices of petroleum is necessary. We are not collecting enough in terms of revenues so government cannot do anything on the matter."
"We should also expect inflationary pressure on commodities on the market," said Tchereni.
In its statement on Wednesday, MERA says landed costs of its products have increased by 6 to 13 percent and it will soon raise the prices to give an opportunity to fuel importers to recover importation costs, among other reasons.