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(LUSAKATIMES) Speaker directs Konga to explain 50% Total International shares transaction

Speaker directs Konga to explain 50% Total International shares transaction
Tuesday, October 20, 2009, 17:31

Speaker of National Assembly Amusa Mwanamwambwa has directed Energy and Water Development Minister Kenneth Konga to give the house full details of the 50 percent Total International shares transaction.

Mr. Mwanamwambwa says there is need for the Minister of Energy to enlighten the house with complete details on the intention by government to buy 50% of Indeni shares from Total International.

He said the Minister should, during the course of this week, provide full information of the transaction process for other members to understand.

Mr. Mwanamwamba stated that other Members of Parliament (MPs) have the right to know about the on-going negotiations between government and Total International concerning the possible shares transaction because the house has a role to play in matters of national economy.

The Speaker’s directive comes after Chipili Member of Parliament Davis Mwila raised a point of order against Energy Minister’s decision not to inform the house on the on going 50 % shares sale negotiations between government and Total International.

Presently government is negotiating with Total international to buy the company’s 50 % shares in Indeni Petroleum refinery for it to completely take over as sole owners of the company.

The current ownership of Indeni refinery is shared between government and Total international with 50 % shares each.

ZANIS

Labels: AMUSA MWANAMWAMBA, FUEL, KENNETH KONGA

posted by MrK @ 6:59 PM