Friday, September 26, 2008

(LUSAKATIMES) Let there be more participation in the economy-Magande

COMMENT - Well I would like see all the neoliberals to come around to the fact that you cannot have an economy without the involvement of the population - an economy that rests solely on the presence of huge corporations in the economy. They are coming to this a little late, after 17 years in power, so it is up to the electorate to judge how convinced they are about their change of philosophy.

But I welcome any involvement of the population in the economy. The way to do that in my opinion is through reinvestment of profits from the mines in infrastructure and agriculture, as well as looking into ways to manufacture finished goods. However, with 70% of the population living on less than $1,- per day, 70% or more of Zambia's agricultural land not being under cultivation, and only 3% of arable land being irrigation and not dependent on rainfall, I think it is obvious what has to be done to move the economy away from depending on the export of raw materials.

Let there be more participation in the economy-Magande
September 25, 2008

Government has said there was need for more business people and individuals to participate in the country’s economy by investing in various sectors of development. Finance and Economic Planning Minister, Ng’andu Magande, said there should be an increased participation in the country’s economy to enable it to expand more.

Mr. Magande said this at a meeting organized by the Zambia Association of Manufacturers (ZMA) in Lusaka today. He said diversification of various sectors in the economy could also enhance investment as the country continues to enjoy economic growth.

And Mr. Magande has called on manufacturers to ensure that the reduction in fuel prices, which was recently announced, trickled down to the consumers.

Mr. Magande also urged consumers to ensure that they demanded for better prices from traders in order for them to benefit from the reduction of prices.

He noted that lack of active participation in ensuring that prices were reduced by stakeholders such as manufacturers and consumers were some of the challenges government was facing in managing the economy of the country.

Mr. Magande said government has also continued to face other challenges such as the unsteady fuel prices on the global market.

And speaking earlier, Zambia Association of Manufacturers (ZMA) president, Dave Baba, said members of the association have also been challenged with rising production costs as a result of rising fuel prices and load shedding by Zesco.

Mr. Baba said the association was however ready to partner with government and other investors in other sectors to enhance production of goods in order to prevent loss of revenue.

He said partnering with other stakeholders could also result in cushioning the challenges faced by the members of association, adding that it could also increase the country’s revenue.


Categories: Economy

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