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
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Mines unions want mineral royalties hiked
Tuesday, October 13, 2009, 18:03
The National Union of Miners and Allied Workers (NUMAW) has supported calls by the International Monetary Fund (IMF) for government to increase the mineral royalties and corporate taxes in order to increase its revenue.
Commenting on IMF’s calls that government should increased mineral royalties and corporate taxes to enhance the country’s revenue, NUMAW president Mundia Sikufele said the current mineral taxes collections were not sufficient enough for country to benefit from.
Mr. Sikufele told ZANIS in an interview in Lusaka today that there was need for the government to quickly revise taxes in order for the people in the mining sector to have an opportunity to benefit from the country’s mineral resources.
He noted that since most of Zambian citizens were in the informal sector, there was need to increase mineral royalties for government to have more revenue.
He explained that by increasing the mineral royalties, people in the mining sector will also be given a chance to contribute to the economic growth of the country through paying other taxes.
Meanwhile the Private Sector Development Association (PSDA) has advised government to treat mineral taxes like any other business taxes in the country.
PSDA Chairperson, Yusuf Dodia, said in a separate interview that government should consider keeping the mine taxes constant at all times if it is to expand its revenue collection base.
Mr. Dodia said there no need for government to change the taxes whenever copper prices fluctuate on the international market.
He said government should ensure that taxes were maintained in a concession manner and not to make them exorbitant.
He pointed out that the reason why government has failed to make meaningful gains from the mine taxes was due to lack of having permanent corporate mineral taxes for the mining sector.
Mr. Dodia further challenged investors in the mining sector to take advantage of rising copper prices on the international market and make significant contributions to the development of the sector and the country as a whole.
ZANIS
Labels: IMF, MINING, MUNDIA SIFUKELE, NUMAW, PSDA, WINDFALL TAX, YUSUF DODIA
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Govt to remove bureaucracy - Musokotwane
December 22, 2008
Finance and National Planning Minister, Situmbeko Musokotwane said the Government would encourage private sector participation by removing bureaucracy and making it easy for people to start doing business.
Private Sector Development Association (PSDA) chairperson, Yusuf Dodia urged the Government to avoid borrowing from banks next year so as not to create more pressure on the financial sector.
Mr Dodia said the Citizens Economic Empowerment Commission (CEEC) and the Development Bank of Zambia (DBZ) should be merged so that they could assist Zambians in starting up businesses.
Another businessman, Jeremiah Dauya said the Government should give local businesses incentives to enable their products to compete with imported items.
Meanwhile Dr. Musokotwane said donors have pledged to fulfill their budgetary commitments in next year’s Budget despite the global financial crisis.
Dr Musokotwane said on the Zambia National Broadcasting Corporation (ZNBC) television programme, “National Watch” monitored yesterday that donors contributed 25 per cent of Zambia’s national Budget.
He said that because of the global crisis there were fears that donor countries who were most affected would cut their support but most of them had confirmed their contribution.
“So far most donors have indicated that they will fulfill their pledges and the only worry will be about the job losses in the mines,” he said.
He said Zambia should not be scared to attract foreign investment because it accounted for the positive economic trends in countries such as China and Thailand.
“We should not be scared to attract local and foreign investment but we should just ensure that people benefit,” he said.
He said Zambia had not attracted sufficient foreign investment, especially that it came from a “commandist” economy and that since it had a small market the option was to export in order to earn foreign exchange.
He added that Zambia was not the only country that was facing job losses in the mines and the Government was monitoring mines while looking at measures of protecting jobs.
Dr Musokotwane said President Banda recently visited Luanshya Mine because the Government was concerned about the job losses.
He also assured that next year’s Budget would address how Zambia would pull through out of the global financial crisis.
Times of Zambia
Labels: CEEC, DBZ, DEREGULATION, PSDA, RED TAPE, SITUMBEKO MUSOKOTWANE, YUSUF DODIA
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Dodia asks govt to reduce cost of doing business
Written by Fridah Zinyama
Monday, December 22, 2008 8:48:22 AM
PRIVATE Sector Development Association (PSDA) chairperson Yusuf Dodia has asked the government to find ways of reducing the cost of doing business for Zambia to survive the current economic hurdles.
But finance minister Situmbeko Musokotwane said government is doing everything within its means to reduce the suffering of the people, especially those on the Copperbelt who are likely to suffer from job losses.
Meanwhile, a private sector player Jeremiah Dauya said the government should come up with tax exemptions that will allow local entrepreneurs to engage in productive sectors like manufacturing.
During ZNBC’s National Watch programme yesterday, Dodia said some members of the business community have had to refuse some of the contracts to supply goods as it had become very expensive for them to meet their obligations due to the depreciation of the kwacha.
“Most businesses are finding it difficult to meet their obligations with their clients because of the fluctuating local currency and even when they do fulfil the contracts, they are doing so at no profit at all,” he said.
Dodia further added that the government needed to put in place workable strategies that would help the economy weather the current global economic crisis.
And Dr Musokotwane said Zambia was not the only country experiencing job losses owing to plummeting copper prices, since the neighbouring Democratic Republic of Congo (DRC) was likely to record over 30,000 job cuts in the mining sector.
“The situation could be worse in Zambia but that is not to say that government is not concerned with what is happening in the country,” he said.
When asked on whether the government would further revise the taxes for the workers in order to offset the revenue deficit caused by plummeting copper prices, Dr Musokotwane said he could not comment on such a sensitive topic as the Ministry of Finance was currently working on the 2009 national budget.
And Dauya said a lot of Zambian entrepreneurs had money but were looking for government incentives in order to continue with their ideas.
Labels: PSDA, SITUMBEKO MUSOKOTWANE, YUSUF DODIA
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