(STICKY) Govt’s stance on windfall tax is absurd - analyst
COMMENT - Also see this article with Sibanze Simuchoba here.Govt’s stance on windfall tax is absurd - analyst
By By Maluba Jere
Sun 02 Jan. 2011, 03:59 CAT
A POLITICAL analyst has described as absurd the government's refusal to heed to calls to re-introduce the windfall tax to help the country benefit from the current surge in international copper price.
Sibanze Simuchoba said it is regrettable that the government is insisting on doing away with windfall tax, saying it was acting as a flanking of imperialism by insisting on doing so.
He said the stance taken by the government leads one to conclude that it has joined the club of those African governments which he termed as commission-earning bourgeoisies for a few million dollars that may be placed in individual accounts.
“On this part alone, whatever good the government can claim to have done during 2010, it pales into insignificance because windfall tax is a must,” he said.
“...what is critical is that Zambia must earn much more than it is earning now for copper which we have in abundance and the price has reached nearly an all-time high of over US $ 9,000 per tonne.”
Simuchoba said the government had sacrificed one of a few opportunities international capitalism has availed the people of Zambia.
He said he felt strongly that if the government did not take heed on the issue, then its mandate to preside over the public affairs of the country should be as good as withdrawn.
And Simuchoba said there is no reason for imagining that the coming year will be better than the last. He said as the country goes to the polls this year, it was every citizen's wish to have free and fair elections.
Simuchoba said it was unfortunate that very few people registered as voters, saying the government could have done more.
“We have a lot of eligible voters who were left out. First of all, there was no real sensitisation and the issuance of National Registration Cards is done in a conspiratory manner and discourages many from acquiring them,” he said.
“There is always something discouraging to young people - the insistence on villages and chiefs where one comes from and for people born and have lived far away from their fathers and chiefs, they just tend to stay away from acquiring them.”
Labels: SIBANZE SIMUCHOBA, WINDFALL TAX
posted by MrK @ 9:10 PM
4 Comments:
not ask to First Quantum minerals the ZCCM-IH's profit.. is 400 M US $ .. is absurd too !!
why FQM refuse that Kansanshi mining give to ZCCM-IH its benefits in dividends ?
WHy ? why accept not receive 400 M US $ ?
why zambia stay in poverty ?
how accept that FQM is still in Zambia ?
Like in congo, FQM must go out from Zambia !!
http://fqmoutofzambia.com/
Hi, Thanks A LOT for this article and website. My guess is that ZCCM-IH should receive AT LEAST $300 million in dividends, and ZRA should receive AT LEAST $700 million in revenues. Obviously, this is not happening. So let's have either a tax that is collectable, or a government willing to collect it.
FQM OUT OF ZAMBIA FQM OUT OF ZAMBIA
ZCCM-IH WANTS ITS MONEY, THE ZAMBIAN PEOPLE WANTS ITS MONEYSeveral billions US$ for FQM not For ZCCM-IH
This web site is here to explain to investors in the world that FQM seems to be a bad Partner for Zambia and that FQM could be expulsed out from Zambia like from Congo !
Since the last 5 years, Kansanshi Mining gave ridiculous dividends, 25 M US $, to ZCCM-IH the Zambian Holding.
With its 20 % in Kansanshi Mining ZCCM-IH should have received more than 400 M US $ !!
But this partner, FQM, prefers to use this money for developping its business on its own all around the world rather than distribute dividends to Zambian Government.
At the same time, IMF and the World Bank have to help Zambia and give them each year several hundred M US$.
The poverty is very important in Zambia, very important, but the money is not for ZCCM-IH, not for the people...
The future Zambian president has to take care about this matter !!
Next GRZ would have to be STRONG
When the partner is bad, Zambia must to take between 51% and 100% in each mining company.
Zambia is a country, not a asset of foreign companies
With its 400 M US$, the Zambia could build several Hospitals, could build several hundred schools, could develop mining industry, could develop itself without help from other countries...
Zambia is a country, not a asset of foreign companies
If you are a partner of Zambia, you have to give to zambia its money ! Soon...
Soon, a lot information about this situation on this web siteHome
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hi, only in the last quarter, end 31 december, the benefit for zccm-ih from kansanshi mining is near 45 M US$..
The total kept by kansanshi mining is near 410 M US $ now !!
But with a copper price 9600 $ ton ... the benefit per quarter for ZCCM-IH from kansanshi mining increase to 50 M US $ !!
At the end of 2011 kansanshi mining will have a debt near 600 M US $ for ZCCM-IH !!
how Zambia could accept this situation ?
how IMF could accept ?
How World bank could accept ?
How zambians could accept ?
scandalous situation
why FQM is still in zambia ?
Can't we sue them for defrauding their shareholders?
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