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(LUSAKATIMES) PF government following the development plans of the MMD government-Chikwanda

PF government following the development plans of the MMD government-Chikwanda
TIME PUBLISHED - Thursday, April 5, 2012, 2:29 pm

The Patriotic Front Government says its development agenda is anchored on the sixth National Development Plan. Finance Minister Alexander Chikwanda has said that the PF government has not discarded the development plans of the MMD government.

He said the private sector should note that PF developments and economic plans are also laid out in the mid-term plans and the annual budget. Mr Chikwanda said this on a ZNBC special recorded TV programme which is expected to air at 21 hours on Thursday.

On monetary policy, Mr Chikwanda said that the Bank of Zambia has introduced the Policy Rate to address the disparity between leading rates and the inflation rate. He said it is not acceptable that there should be 400 percent disparity on lending rates which stand at 25 percent while inflation is at six percent.

Mr Chikwanda also said the two million Kwacha income tax threshold which takes effect this month will create spending power and stir the economy to grow.

And he Patriotic Front-PF party has reaffirmed its commitment to deliver on its election campaign promises. Vice President Guy Scott who is also party Vice President says the PF party will not be preoccupied with the election victory but concentrate on uplifting the lives of Zambians.

Dr. Scott was speaking when he addressed PF officials in Kabwe in Central Province on Wednesday.

Dr Guy Scott also said that the opposition Movement for Multiparty Democracy (MMD) will never come back to power just like the United Independence Party (UNIP) which he said has been in the opposition for more than 20 years since it lost to MMD in 1991.

The Vice president encouraged members of the PF in central province to work hard and make the party stronger by recruiting more members. ZANIS reports that Dr. Scott said the party wants the Mkushi North Seat which has been nullified to completely displace the MMD from Central Province where they used to enjoy more support.

He noted that the PF lost the 2008 election by 2 per cent because people in Central Province voted for MMD which he said should not be the case during the by-elections. Dr. Scott was speaking in Kabwe yesterday when he met PF members after a tour of Mukobeko Maximum Prison.

And Central Province Patriotic Front Chairman Benson Chali says the party is well positioned to win all the by-elections that have been created as a result of nullification of results following the petitions.

Mr. Chali told the Vice President that the opposition MMD Councilors have approached the party with intentions of wanting to defect to the ruling party but was waiting for the petition results to be heard.

He said more members have since joined and promised to scope the Mkushi North seat which was recently nullified in the high court. The Lusaka High court recently nullified the Chama North and Mkushi North seats which were petitioned by the PF.

ZNBC

Labels: BOZ, ECONOMY, GUY SCOTT, LENDING RATES, MMD, PF

posted by MrK @ 4:17 PM