COMMENT - " Dr Musokotwane said Zambia and Mauritius wanted to protect investors in the two countries from double taxation. " Dr. Musokotwane is a simple crook, who not only shields mining companies from paying taxes in Zambia, he also shields them from paying dividends to their shareholders, which is defrauding ZCCM-IH shareholders from a rightful return on their investment. He is a criminal.
Magande is jealous of govt’s successes - Musokotwane
By Chiwoyu Sinyangwe
Fri 28 Jan. 2011, 04:01 CAT
NG’ANDU Magande is being jealous of the economic achievements of the current government, says finance minister Dr Situmbeko Musokotwane.
Reacting to Magande’s observations that President Rupiah Banda’s regime lacks medium to long-term planning as witnessed by the planned law to empower the education minister to sell or lease out public schools, Dr Musokotwane said the former minister was an envious man.
Dr Musokotwane said the current regime was scoring economic achievements, which Magande failed to score during the time he served as the country’s all-time longest finance minister.
“His comments are a terrible misunderstanding or to some extent, he being jealous because we are achieving,” said Dr Musokotwane without commenting on the education Bill of 2010 released by Abyudi Shonga which gives powers to the minister of education to sell or lease public learning institutions.
“We are building schools and just this year, we are hiring 5,000 teachers, so, should that mean we are not planning?”
Dr Musokotwane also said Denmark’s withdrawal of aid to Zambia was not as a result of bad governance in the country.
Dr Musokotwane said Denmark stopped funding Zambia because of the economic and financial crisis the European country was going through as well as Zambia’s good economic performance.
He said Denmark’s funding would be halted in the next three years after the committed funding is disbursed.
Dr Musokotwane said the current regime wanted to wane the country off donor dependence unlike what he termed Magande’s reign, which was donor-dependent.
“The focus of this government is ‘how does Zambia graduate from donor dependence in sustainable way’ and not where you just ‘Go away! Go away! Go away!’
“So, after Denmark decided to cut aid to some countries owing to their financial crisis, they looked at those countries that are desperate and Zambia is not in a desperate situation, and that is the basis they include Zambia on the list of the countries where they would stop providing development assistance.”
Dr Musokotwane said Zambia’s planned increased copper output and growth in related industries was expected to drive economic growth in Zambia.
He said the copper output was expected to rise from the current estimated 800,000 metric tonnes to about 1.5 million metric tonnes in the next five years.
“Surely, we should graduate from being beggars to people who feed themselves,” he said.
Dr Musokotwane alleged that the Danes had intentions of withdrawing funding to some roads in Western province under Magande.
And Zambia agreed that investors between Zambia and Mauritius should not be subjected to duo taxations in respect of the investments they make in the two countries.
Dr Musokotwane said Zambia and Mauritius wanted to protect investors in the two countries from double taxation.
Mauritius...
ReplyDeleteBy the way, in whose pockets are now the 100 million dollars swindled from ZCCM and invested in the banking system in Mauritius ??
the gvt, finance minister Musokotwane ALSO FORMER DIRECTOR OF ZCCM know that and where the money is...
if mauritian banks refuse to return money why Musokotwane does not publicly make pression on Mauritians ??
Nothing was done since Levy’s death...
why they are so lenient to recover $100 million ????
Unfortunately, we know the answer...
and the corrupt gvt and its crook need to borrow money to make ends meet !!
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from apanews in 2007...
APA - Port Louis (Mauritius) Zambia and Mauritius, within the framework of the Mutual Assistance Programme are working to retrieve 100 million dollars alleged swindled from the Zambia Consolidated Copper Mines (ZCCM), APA learnt here.
The Zambian government holds 85 percent of shares in the ZCCM.
A high level delegation of the Zambian Task Force on Corruption, Tuesday arrived in Mauritius to pursue the matter.
Rama Valayden, the Attorney General and Minister of Justice to reporters Wednesday in the capital, Port Louis, that he will hold a working session in the evening with the Zambian delegation to discuss the follow up of the case which implicates offshore companies incorporated in Mauritius.
He said about 100 million dollars have been transferred through the Bank of Butterfield Account in London, before being invested in the banking system in Mauritius and said the suspects in the scam are known by Zambian and Mauritian authorities.
At the beginning of the year, at the request of the Zambian government, the Mauritius Supreme Court issued an ’Attachment and Freezing Order’ to several banks here on the accounts of the suspects, Mr Bernard Mungulude, Mr Kazhi Kateke and the Laxi diamond company.
The duty of the Zambian Task Force on Corruption now was to seek to identify the local agents and representatives of the suspects so as to be able to recover and repatriate the money.
Hence, local banks have been assigned to submit documentary evidence to expose the criminal gang, or else the banks will face dire consequences, Valayden said.
MikeTe,
ReplyDeleteThanks a lot for this reminder. There must be a lot of evidence of corruption in the dealings of ZCCM-IH, when people get into their books.
I'm sure that is why they waited years before releasing financial statements.