HAABAZOKA ADVOCATES GOVERNMENT CONTROL OF MINING INDUSTRY FOR REVENUE MAXIMIZATION
Dr. Lubinda Haabazoka, former President of the Economic Association of Zambia (EAZ), has emphasized the importance of government taking control of the mining industry to optimize revenue collection. According to Dr. Haabazoka, even the country’s US$14 billion debt could be paid off if government had control over the mining sector.
Dr. Haabazoka highlighted the potential of Konkola Copper Mines Plc and Mopani Copper Mines to produce 400,000 tonnes of copper if operated optimally. He explained that with the ownership of these mines and a copper price of around US$10,000 per tonne, the country could generate approximately US$4 billion, which could contribute significantly towards paying off the debt.
Dr. Haabazoka further emphasized the vast mineral resources in Zambia, including gold, sugilite, copper, and other valuable resources. He pointed out that if these resources are effectively utilized, they have the potential to earn crucial foreign exchange for the country.
In addition, Dr. Haabazoka acknowledged the achievements of former President Edgar Chagwa Lungu in expanding hydroelectric power generation from 1,600 megawatts to approximately 3,500 megawatts. He highlighted President Lungu’s accomplishments in airport expansion, road construction, the establishment of schools and health facilities, and other infrastructure developments. Dr. Haabazoka emphasized the importance of acknowledging positive contributions made by leaders.
Dr. Haabazoka also noted that both President Lungu and late former Head of State Rupiah Banda faced strong criticism during their presidencies for various reasons. He acknowledged the challenging circumstances, including drought, the pandemic, and other prevailing issues, that President Lungu had to navigate during his tenure.
SPICE FM