If the purchase of the Presidential Jet was a scam, the intended resale is a far bigger scam- Amb. Emmanuel Mwamba

17
Emmanuel Mwamba

If the purchase of the Presidential Jet was a scam, the intended resale is a far bigger scam

Amb. Emmanuel Mwamba wrote;

The presidential jet, the G650 Gulfstream was valued at factory price of $65million at its launch (and now factory price cost $73million because of its world-wide demand).

Zambia bought one with upgrades and military secure installations which price allegedly shot to $193million.

President Hakainde Hichilema says the entire scheme was just a corrupt way to siphon money using the purchase of the Jet.

Now he is selling the jet far below the $65million, and a big loss to the $193million purchase price earlier paid.

Wasn’t it going to be prudent to keep the plane? If we have suffered a loss of $193m already?

Why would the plane be given away?

Who is he giving it away to?

17 COMMENTS

  1. The arrogance of these PF gentlemen is truly amazing! What military upgrades cost over US$120million? The President has the Challenger jet for short trips and he has rightly opted to use commercial airlines for long trips. So why should we keep the gulf stream?

    What are the maintenance costs? Sell the cursed thing even at a loss! The President promised to sell it. I am waiting for him to fulfill that campaign promise.

    • I think this guy ambassador makes sense for once in his political career and statements.
      It doesn’t help matters if as a country we are going to sell the jet at less than the $195m, worse off less than the factory price of $65m.
      I think it’s prudent to keep the plane, Barry may not like and use it but some one else can make use of it later, otherwise questions like who do you want to sell it to and what is the interest? Are there some hidden agenda??
      Forget about a cheap political campaign lie that you promised to sell and face reality Barry.

      • @Jasto 70 with a price tag of $193millon, what are the maintenance costs per year? Do not look at the purchase price only. This plane and the so called upgrades require specialist attention and it is not cheap.

        It might look like we are losing out by selling it but, in the long run we will save.

      • In Management Accounting you do not use a “Sunk Cost” for Decision Making, Sir, the US$65million is already a Sunk Cost, it is irrelevant in Decision Making!!!!

      • There is also such a thing as depreciation on these assets.
        In addition, the ‘upgrades’ for $120 million were specified for PF, it’s not a given that anyone wants to pay for them. And besides, if they were inflated for PF to steal money, most of them probably don’t exist as part of the resale price.
        This isn’t rocket science.

      • Jasto70 am with you on this one why sell a lose even below the factory price it doesn’t make sense not even a bit, unless they is something same one is not telling us, we were told if we sell the jet that money will be used to buy things like drugs now you want to sell it pa lose such thinking gives one to doubt the motive. they is a saying ati don’t please your ego you may regret it. selling Government assets its not an easy way to rise money or creating employment yes same blinded induvial will praise for us a lose. i hope these are not one of the IMF conditions for the ngogole restructuring i will end by saying REMOTE controlled ( the west are not your friends )

      • During Privatization of Hotel Intercontinental,there were bids ranging from the lowest of $5million to $26million,it so happened that those charged with Privatization of this asset opted to award the Hotel to the $5million bidder leaving the highest bid of $26m.Is history about to repeat itself.

  2. When did he say he was selling it for bow $65m? He will get you Tu PF to buy it back. We want our money back. Why don’t you just keep quiet sometimes a Mwamba kansi. Is there no law to report those who are perpetually being a nuisance in society with their mediocre social debates? Our law development commission please come up with such laws. These people are sickening.

  3. This is not an accounting issue but a legal and moral one.
    The jet cannot sell for $190 million. That transaction was a scheme to siphon dollars by the stinking, thieving PF cartel.
    Better sell the jet and buy a cheaper long range wide-body aircraft like ones used by the majority of African Presidents.
    The siphoned cash should be returned by the PF to the rightful owners, the people of Zambia.

  4. The Challenger is very old. A new plane makes sense.

    Keep the Gulfstream

    Our Commander In Chief should be safe on travel

    • Bwana mwamba if someone is stealing we don’t need u to tell us we can see it for ourselves. Thats hw we saw pf stealing by ourselves and no one told us…iwe ka clown called mwamba u mean u ar the one who keeps our eyes and brains.. kolwe

LEAVE A REPLY

Please enter your comment!
Please enter your name here