ECONOMY IN DISTRESS, UPND HAS NOT SHOWN LEADERSHIP IN TIMES OF CRISIS – SILAVWE
Zambia is in economic distress. The economic hardships facing our people are further compound by lack of solid intervention measures by the new dawn administration.
As Golden Party of Zambia (GPZ), we propose the following local measures in the short, medium and long terms to make the economy work for Zambians:
Short Term
1. Freeze the upward adjustment of the monetary policy rate (MPR) and the statutory reserve ratio (SRR) for 3 years.
2. Pay all the local domestic suppliers.
3. Award large contracts to local Zambian companies.
4. Raise a bit more taxes from the mining sector.
5. Create incentives for local small and medium businesses.
6. Ease financial restrictions for foreign money coming into the country.
7. Increase capacity for ZNS to meet 50% of national maize production and mealie meal consumption.
8. Provide tax, levies and statutory incentives to local small and medium businesses.
*Medium Term*
1. Increase government revenue from mining.
2. Declare sugilite, gold and lithium as state assets through an act of parliament.
3. Deposit sugilite and gold in Bank of Zambia ( BOZ) as part of the strategic national reserves.
4. Minimize and gradually eliminate tax holidays for foreign companies operating in Zambia.
5. Cap the externalisation of profits by foreign mining companies.
6. Create a tax haven within Zambia.
Long Term
1. Invest directly USD $1billion in 10,000 new high quality start ups.
2. Raise national production through industrialisation and value addition.
3. Laws to ban exportation of unprocessed minerals from mining.
4. Build local gold and lithium processing plants by the government.
5. Heavy investment in technology and creative sectors.
6. Reduce unemployment from 8 million plus job seekers to 2 million in 10 to 15years through the private sector.
Undoubtedly the Zambian economy is biting very hard on an ordinary local citizen and businesses.
It is imperative that the dawn administration responds on behalf of our people and provide economic relief.
Silavwe Jackson
President
GPZ