Q FM Africa's Modern Radio
The Zambia Chamber of Commerce and Industry (ZACCI) says is acknowledges government measures in tariff reforms to attract investment in the energy sector.
Speaking during an Economic Association of Zambia (EAZ) discussion forum on the economic cost of load shedding in Lusaka last evening, ZACCI vice president services Chabuka Kawesha however says they are waiting to see what the tariff reforms will translate into.
Dr. Chabuka says the massive load shedding in the country may lead to low productivity, job losses, increased cost of living and may also lead to the high poverty levels in the country.
He says the risk of the load shedding is that the capacity of the economic growth of the country may slow down.
He adds that feedback from the education sector shows that innovation, science and technology with regard to the tools that can be used to teach is low as a result of the load shedding.
Dr. Chabuka however, notes that there is also an opportunity in the load shedding situation, explaining that people are becoming innovative by setting up all sorts of energy sources, stating that load shedding should therefore not just be seen in a negative sense much as it is impacting on the economy.
He has further challenged the manufacturing industry to begin manufacturing renewable energy products stressing that the country should not be importing even things that can be manufactured in the country.
And ZESCO Crisis Management Committee Chairperson Changala Nswana says currently only the domestic and retail customers are participating in the energy saving programme daily throughout the country.
Mr. Nswana says without the participation of the mines, the water reservoirs could be depleted to a point where it may become impossible to generate any more power from the two major power stations.
He explains that the estimated daily deficit of energy on the Zambian power system is about 14,000 Megawatt hours (Mwh) or 580 megawatt which cannot be filled entirely by power imports due to a general deficit of power in the region.
Mr. Nswana further states that part of the energy shortfall is planned to be met by a deliberate programme of energy saving by all customers.
And Economist Dr. Mushiba Nyamazana says backup power can never compensate main power because it is not as powerful as the main power and also has high running costs.
Dr Nyamazana says there is need to find a better way of mitigating the load shedding in the country.