Wednesday, June 12, 2013

(LUSAKATIMES) World Bank is wrong to support the removal of fuel and maize subsidies-HH
Time Posted: June 6, 2013 9:03 pm

United Party for National Development (UPND) leader Hakainde Hichilema says the World Bank is wrong to support the removal of fuel and maize subsidies by the Zambian government.

Mr Hichilema has since challenged the World Bank Zambia office to prove him otherwise on the removal of subsidies by government.

He says those praising the removal of subsidies including high commissioners and ambassadors accredited to Zambia are being misled by the PF government.

And Mr Hichilema says the high cost of mealie meal and the instability of the kwacha against major foreign currency since the PF Government in 2011 is an indication of failed PF economic policies.

He points out that when the PF government took over power in 2011 a bag of mealie meal was costing K36, 000 kwacha, while the current price is stands at K70, 000.

Mr Hichilema adds that he is still waiting for a reply from President Michael Sata to his letter of 21st May, 2013 in which he raised concerns over the removal of subsidies.

He was speaking on 5-FM’s the Burning Issue this morning.

He explains that subsidies are part of any society, pointing out that big economies including the United Kingdom and the United States of America all have subsidies in place.

Mr Hichilema says the issue is not whether or not there will be subsidies, but how and where to apply subsidies.

The UPND leader states that to debate that the subsidies are not necessary is a sign of ignorance which says obtains among most PF officials.

He adds that subsidies are the future of any society and would help preserve jobs in the country.

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