Maravi

Zamtel sale is plunder – Sata

COMMENT - Future President Michael Sata: " They have sold Zamtel because of commission, nothing else. "

Zamtel sale is plunder – Sata
By Patson Chilemba
Tue 08 June 2010, 11:30 CAT

THE sale of Zamtel is plunder, Patriotic Front (PF) leader Michael Sata has charged. And Sata warned Frederick Chiluba that he only has 15 months left to abuse the people of Zambia because his future is very bleak.

Commenting on the government’s decision to sell 75 per cent shares in Zamtel to Libya's Lap Green Network, a transaction from which RP Capital Partners would get about US $12.8 million, Sata said the sale of Zamtel was another form of plunder of national resources, and President Rupiah Banda would have to answer for it.

“They have sold Zamtel because of commission, nothing else. It is not because of the benefit to Zambians. So the Zambian people will not get anything out of it," Sata said.

RP Capital would get about US $12.8 million approximately K65 billion from the Zambian government after the sale of Zamtel to Libya's Lap Green Network.

According to a memorandum of understanding (MoU) which the then communications and transport minister Dora Siliya in 2008 signed with RP Capital Partners Limited to evaluate Zamtel before partial privatisation, the Zambian government shall pay to RP Capital Partners Limited a fee amounting to five per cent of the negotiated amount and would get US $2 million about K10.3 billion as transaction fees at the end of the transaction.

On June 5, 2010 finance and national planning minister Dr Situmbeko Musokotwane announced that the government had agreed to sell 75 per cent shares in Zamtel to Libya's Lap Green Network for US$57 million about K1.3 trillion.

Since RP Capital Partners Limited is entitled to five per cent of the negotiated amount, in this case US $257 million, it means that the firm would be given about US$12.8 million.

And reacting to Chiluba's statement in yesterday's edition of the Times of Zambia that he had invited himself to campaign for the MMD in the forthcoming Chifubu parliamentary by-election, Sata said Chiluba would use plundered money for the campaigns.

He said Chiluba was welcome to campaign for the MMD but should beware of the consequences.

"How he was received in Kitwe is part of the campaign. He asked for it, he opened the campaign. The whole point is houses, when he was president he did not care about the well-being of the councils and he should not interfere because the pension scheme keeps the money for the miners. When they are in need of that money they get it,” Sata said.

“Tell Chiluba that he has only 15 months left in which to continue abusing people of Zambia because after 15 months there will be no Rupiah Banda to protect him. He knows how it feels so he should minimise offending people. He should minimise offending people because Rupiah Banda will not be there forever.”

Sata said it was very clear in the Republican Constitution that former presidents should not engage in active politics.

“But when he is travelling he is using taxpayers’ money. He is abusing taxpayers’ money, which this man is giving him to go and campaign for him. That is abusing the people. That is continuation of plunder. Why doesn't he emulate Kenneth Kaunda? Why can't he get involved in some charity?” Sata asked. “He doesn't learn.”

Sata said when issues are raised against Chiluba, the people would not ask questions because his conduct is very clear.

“He can survive now but his future will be very bleak. He can do whatever he is doing now and Rupiah Banda won't do anything. So there will be no need of people trying to prove that the man is back into active politics. It is him who has said that he will be campaigning,” said Sata.

Chiluba said in yesterday's edition of the Times of Zambia that he had invited himself to campaign in the Chifubu parliamentary by-election.

Labels: CORRUPTION, PRIVATISATION, SATA, ZAMTEL

posted by MrK @ 3:39 PM