Maravi

Jubilee Zambia calls for close monitoring of privatised firms

Jubilee Zambia calls for close monitoring of privatised firms
By Joan Chirwa
Thursday September 13, 2007 [04:00]

JUBILEE Zambia has advised government to effectively monitor the operations of privatised companies and foreign investments for the benefit of the local people. Releasing findings of the study on the 'Impact of Privatisation and Foreign Investment in Northern Province' in Lusaka on Tuesday, Jubilee Zambia noted that the privatisation process embarked upon by government was one of the biggest economic exercises that needed to be carried out with caution.

Jubilee Kasama team leader Kelly Kashiwa said the government should bring the process of privatisation to a halt while taking stock of the performance of the already privatised companies.

"Privatisation must be done in a gradual way and must not be rushed and it should also be done in a transparent manner," Kashiwa said. "There were a lot of concerns from the respondents in Northern Province that government has not accounted for the monies realised from the sale of state owned companies."

The findings further revealed that people in Northern Province required government to promote a level playing field where both local and foreign investors could compete in a business environment.

"Government must promote a level playing field where both local and foreign investors can invest freely and compete in an enabling environment especially that our local investors have limited financial base," Kashiwa said.

"There is also externalisation of profits made by foreign investors. Government needs to monitor operations of privatised companies and foreign investment."

Jubilee Zambia further called on government, through the Ministry of Labour and Social Security to intensify its operations to ensure that all investors respected labour laws.

"The Ministry of Labour and Social Services should intensify its operations and address the issues of violations of conditions of service especially that some districts do not have these offices in place and in some areas where these offices exist, there is little work done due to limited human resource," said Kashiwa.

Labels: JUBILEE ZAMBIA, PRIVATISATION

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