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(LUSAKATIMES) Courts will determine wrong or right in ZAMTEL sale – Guy Scott

Courts will determine wrong or right in ZAMTEL sale – Guy Scott
TIME PUBLISHED - Tuesday, January 10, 2012, 8:53 am

Government says it will be up to the courts of law to determine who was wrong or right in the sale of the telecommunications company Zamtel to Libya’s LAP Green.

Vice president Guy Scot has exclusively told QFM that the matter which he said would be a civil litigation would tell who is liable in the Zamtel Sale case after it is heard in the courts of law and all the evidence is given.

The vice president however declined to comment further on LAP Green’s reaction to media reports that government has reversed the sale of Zamtel saying the government would not try anyone through the media.

In a statement availed to QFM over weekend, newly appointed LAP Green board chairman Wafik Alshater said LAP Green will pursue all options and do everything possible to retain its stake in Zamtel claiming the Libyan firm legally acquired its 75% shares in the company.

Meanwhile, The Private Sector Development Association has called on the Zambian government to quickly resolve the issue of the sale of Zamtel to LAP Green of Libya.

PSDA chairperson Yusuf Dodia says government should ensure also ensure that sale of ZANACO to Rabo bank is resolved.

Mr. Dodia says the two companies are very important in far as foreign investment is concerned to Zambia.

The vice president however declined to comment further on LAP Green’s reaction to media reports that government has reversed the sale of Zamtel saying the government would not try anyone through the media.

He says if the government handles the issues very well, and assures confidence in the economy, they will boost foreign investors’ confidence in the country.

He adds that Zambia needs foreign investment as it aids the development of the country.

QFM

Labels: CORRUPTION, GUY SCOTT, LAP GREEN, PARASTATALS, PSDA, RABOBANK, YUSUF DODIA, ZAMTEL, ZANACO

posted by MrK @ 10:00 AM