President Hakainde Hichilema has commended the Zambia Association of Manufacturers (ZAM) for reducing the costs of products.

Speaking when he delivered his keynote address on the progress made in the application of national values and principles in Parliament today, President Hichilema praised ZAM for responding positively to the economic fundamentals by lowering prices of goods and services.

He acknowledged that the government alone cannot resolve the high cost of living, and therefore applauded ZAM for complementing the government’s efforts through price reductions.

“We commend ZAM for responding to the positive economic fundamentals, lowering prices. I appeal for other businesses to do the same,” he stated.

The Head of State expressed concern with some retailers in townships who have not yet reduced the cost of products.

He wondered why some retailers have not lowered the cost of products when,  where they order from, prices of commodities have been lowered.

“We notice that retailers in townships are not responding, where they are ordering goods, prices have come down, they too must respond,” he said.

The Head of State further pledged to work closely with the private sector, noting that the government can’t achieve everything alone.

President Hichilema assured the House that the government will continue to work with the private sector in lowering the cost of living.

He pointed out that citizens have yet to feel the full benefits of the economic gains the country has made.

President Hichilema, however, explained that the benefits of the economic gains will be felt through a gradual process.

He indicated that the economic fundamentals of the country are getting better, with macro stability aligning positively.

“The economic fundamentals are getting better, with a clear positive alignment, we acknowledge that citizens are yet to feel the full benefits,” the President stated.