Maravi

MMD refusal to re-introduce windfall tax warrants their removal - PF

MMD refusal to re-introduce windfall tax warrants their removal - PF
By Chiwoyu Sinyangwe
Wed 05 Jan. 2011, 03:59 CAT

THE PF says the government’s refusal to re-introduce the windfall tax is enough justification for the party to be removed from power this year. Latest projections for key commodity traders and markets analysts indicate that prices would reach US$10,000 per tonne this year while others are talking about copper possibly reaching US$11,000.

PF national treasurer Emmanuel Chenda said it was irresponsible for the current regime to continue ignoring calls to introduce a mechanism to help the country tap into the current surge in copper prices.

Chenda said the current regime needed to heed to calls for the introduction of the windfall tax to help the country benefit from record high copper prices.
He reminded President Rupiah Banda that he were in the government to serve the interest of Zambians who were demanding for the reintroduction of the windfall tax in view of the current high copper prices.

“Granted they are in power today, they should make sure they do according to the will of the Zambian people who put them there,” Chenda said.

“In fact, the Zambian people are the owners of the land and the copper. If they make a decision which is not in favour of Zambians, then this should be justification to kick them out this year when the election comes because they have failed to do the will of the electorate.”

Chenda said the foreign mining firms were laughing all the way as the current high metal prices rendered their tax obligation according to the current mining fiscal regime a mere “petty cash” expenditure.

“It is sad that this irresponsible government of the MMD must continue to argue that we will benefit through the corporate tax and not the windfall tax,” Chenda said. “We in the PF are saying posterity will judge these people harshly and those who will not survive will be hiding in shame.”

Chenda said it was difficult to understand the current regime’s position on the role of the mining sector in the country’s development.

Chenda said whereas the mining sector built major Copperbelt towns amidst a very modest copper price during the colonial era, the opposite was happening when Zambia is independent.

Chenda called for increased citizenry pressure on the government to allow the country benefit from the current high international metal prices.

“No responsible citizen would fail to ask as ‘what is in for us?’ right now there is nothing for the Zambia people except the lack of infrastructure and development in the key Copperbelt towns,” said Chenda.

Labels: NEOLIBERALISM, PF, WINDFALL TAX

posted by MrK @ 3:53 AM