KEY SOLUTIONS TO OUR ECONOMIC CHALLENGES- Fred M'membe
KEY SOLUTIONS TO OUR ECONOMIC CHALLENGES
The key immediate positive economic measure that Mr Hakainde Hichilema and his UPND government should take to address our economic challenges is revising the generous mining tax waivers given to transnational corporations.
Those in power should keep in mind that right now, the country is engulfed in political upheaval and is tense politically. Economically, our country is on its knees.
Aside from debt, the economic landscape is in the negative with high cost of living, which has a potential for civil unrest.
Prolonged load shedding is negatively affecting business. The transport costs should go down to reflect minor reductions in the fuel prices.
New external borrowing is increasing our foreign debt exposure and increases the probability for future default. Revamping of mines and increased copper production is a medium-term initiative and will not have an immediate impact on our economic challenges.
Our advice on the immediate positive economic measure is revising the generous mining tax waivers. We ask those in power to move on this immediately. We also ask those in power to immediately stop exporting electricity and prioritize the Zambian people.
We can make Zambia better!
Fred M’membe