(LUSAKATIMES) Windfal tax would have generated K4 trillion – HH

Windfal tax would have generated K4 trillion – HH
TIME PUBLISHED - Friday, June 1, 2012, 1:59 pm

United Party for National Development (UPND) leader Hakainde Hichilema has said that the country could have realized about K4 trillion if the government had reintroduced the windfall tax for mining companies.

Mr. Hichilema said that the money collected from the mines in form of tax could have been channeled into infrastructure development in the country. The opposition leader observes that investing in infrastructure would have helped in reducing the cost of doing business in the country.

Mr. Hichilema adds that this would have further encouraged the private sector to participate in the economic activities that would among other things contribute to job creation.

He has told QFM news that the PF government does not seem to have a clear policy on investment citing the take over of Zamtel as one example that makes the government’s position on foreign investment questionable.

Mr. Hichilema notes that government should be mindful in the way it handles cases involving companies suspected to have been corruptly sold to ensure that investor confidence is not eroded.

QFM