Kwacha appreciation might not lead to immediate decline in commodity prices – Mulenga

COMMERCE, Trade and Industry Minister Chipoka Mulenga says the appreciation of the Kwacha against major convertible currencies might not lead to an immediate decline in the prices of goods. And Mulenga says government will set up a fertiliser plant which will produce 10 times more than Nitrogen Chemicals of Zambia. Speaking in Parliament, Tuesday, Mulenga said it may take a little while for prices to decline on the domestic market even when the Kwacha had appreciated. He said the country was expected to see price stability domestically as import commodity prices reduced in the long run. “The appreciation of the Zambian Kwacha against other major convertible currencies may not lead to an immediate decline in the price of goods domestically...