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(LUSAKA TIMES) RB castigates opposition parties criticising the World Bank’s reclassification of Zambia

RB castigates opposition parties criticising the World Bank’s reclassification of Zambia
TIME PUBLISHED - Thursday, July 21, 2011, 4:47 am

President Banda has castigated opposition parties and some individuals criticising the World Bank’s reclassification of Zambia as a lower middle-income country. Mr Banda said he is disappointed with people who have continued to criticise the World Bank decision which shows that Zambia’s economy is growing.

“We have received the news from the World Bank and the country’s B+ rating from international rating organisations Standard and Poors and Fitch with honour and joy but it is surprising that my colleagues in the opposition have continued to criticise such recognitions,” President Banda said.

“They are saying there is still poverty in the country but there is no country in the world which is free of poverty. It is through these ratings that our country will manage to eradicate poverty,” he said.

President Banda said this when he officiated at the ground-breaking ceremony of the Kafue Gorge Lower Hydro-electric project in Kafue yesterday.

He said the continued positive ratings mean that Zambia’s economy is growing at a fast rate and benefits will trickle down to citizens and improve their lives.

Mr Banda said Zambia can now attract more investors to the country’s critical sectors and investors will help Zambia to develop economically, socially and politically.

“These ratings do not mean that our people will wake up tomorrow and start driving their own vehicles, live a posh life or that the country will suddenly eradicate poverty. But in the long run, people will live more comfortable lives. So, I wonder what my colleagues criticise. One day we will get there,” President Banda assured.

He said the ratings are not political because they were conducted by credible international institutions, based on the country’s economic achievements.

“These ratings do not mean that our people will wake up tomorrow and start driving their own vehicles, live a posh life or that the country will suddenly eradicate poverty. But in the long run, people will live more comfortable lives. So, I wonder what my colleagues criticise. One day we will get there,” President Banda assured.

Mr Banda said he is happy that Zambia has been reclassified as a lower middle-income country and assigned positive ratings under his administration.

Meanwhile, Mr Banda has announced that over 200 housing units in Camp Three of Namalundu Gorge residential area in Kafue will be sold to sitting tenants.

And President Banda is disappointed with people who are criticising the World Bank’s ranking of Zambia as a lower middle-income country.

Mr Banda made the announcement in Kafue yesterday when he officiated at the ground-breaking ceremony of Kafue Gorge Lower Hydro-electric Project.

“Let me take this opportunity to announce that over 200 houses in Camp Three of Namalundu will be given to sitting tenants to benefit our people,” he said.

The institutional houses are occupied by Zambia Police Service officers, health workers and some employees of Zesco. Mr Banda said Zesco under the Kafue Gorge Lower Hydro-electric Project will build houses for its employees working under the project.

He said the project will also construct a classroom block at Chibola Basic School in Namalundu.

“Zesco will build new houses for its workers who will be employed under this new project. In the same vein, this project will construct a classroom block at Chibola Basic School which you had requested me to build for you,” Mr Banda told the crowd which had gathered to witness the ground-breaking ceremony.

Before making the announcement at the project site, Mr Banda toured the Namalundu houses and some schools.

He also held private talks with Zesco management and some members of the board of directors.

Recently, the President instructed Maamba Collieries to offer over 800 houses to former sitting tenants as part of the home empowerment scheme

Labels: KAFUE LOWER GORGE HYDRO POWER STATION, NEOLIBERALISM, POVERTY, RUPIAH BANDA, SIXTH NATIONAL DEVELOPMENT PLAN

posted by MrK @ 4:00 AM