Artificial Exchange Rate Flactuations;  Volatile Exchange Rate throws Away Business Planning and breeds, Speculations, Chaos and losses- Amb. Emmanuel Mwamba

Artificial Exchange Rate Flactuations;  Volatile Exchange Rate throws Away Business Planning and breeds, Speculations, Chaos and losses

..here is how we will stabilise the foreign exchange market and shore up reserves…

Amb. Emmanuel Mwamba Wrote;

On Project 2026 and Beyond-  Managing the Exchange Rate Market

Here is the plan to shore up foreign reserves;

● lift restrictive foreign exchange regulations and archaic monetary policies imposed by this Government. This prevents the emergence of a black market or parallel and ifficial rates or alternative underground market.

● Rely, not on foreign loans, but domestic monilisation of revenue.

● 51% shareholding in all large-scale mines in Zambia.

● Abolish tax and other incentives granted unfairly to the mining sector. Peace, security, legal including negotiation, mediation, arbitration, and litigation, good governance are dividends that will guarantee a friendly and secure business environment and not cash or tax incentives. Fair and just taxes will be promoted and paid.

●Ban on export of raw materials, copper ore or logs ilof timber. Value-addition and Secondary products will be established and promoted as export goods.

●An export proceeds tracking mechanism, a system to establish, monitor and verify the movement of funds generated from exports, ensuring that these proceeds are properly repatriated to home bank account, recorded and accounted for.

● An aggressive domestic revenue program that involves widening tax base, fair, equity, and just taxes ( an aversge of 15% and below).

● Turn the economy into an export oriented and focused economy, enhancing productivity and innovation,diversify markets and producem. Remember we have planned to grow food and fish, not for 20million people but 400million people in the SADC region and later the 1.3billion in Africa.

● Establish the Zambia Sovereign Wealth Fund (ZSWF) to build national savings, and build national wealth.

Project 2026 and Beyond, a plan not for elections but for Generations.