*Reducing cost of living “impossible” but not all is lost.*
*Issued: 08|03|2023*
President Hakainde Hichilema and his government can counter the HIGH cost of living with the LOW cost of doing business especially for local businesses. Zambian’s must spend to keep the economy alive and fluid.
The main objective of countering the high cost of living with low cost of doing business is to give individuals and businesses increased SPENDING POWER thus offloading that much needed kwacha into circulation.
President Hichilema and his administration must consider the following proposals but not limited to;
1. Declaring gold, sugilite and lithium as state assets to be mined by ZNS and deposited into the bank of Zambia (BOZ). This measure can give the Government in excess of USD $1 Billion Dollars per year.
2. Abolish tax holidays for all foreign companies including mines, reduce company tax and lower pay as you earn to increase disposable income for workers, abolish turnover tax on commercial properties and improve collection of land rates.
3. Fuse workers compensation into NAPSA remittances. A percentage of the remittances to NAPSA should be reserved for workers once injured.
4. Merge fire certificate license into business levy certificate for all trading businesses and provide tax incentives for local business that employ graduates straight from schools and pays them a minimum wage.
5. Amend the Act that creates the competition and consumer protection commission (CCPC). In it’s current form it is too punitive to businesses. Further simplification of company/business registration.
6. President Hichilema should set up a high level economic advisory management team to study indepth the cost of doing business and registration and advise accordingly.
In modern economies, it is people’s spending the drives and grows the economy. Reducing the cost of of doing business will make our people afford the high cost of living.
GPZ, Our People First
Silavwe Jackson
*President
*GPZ.