Golden Party of Zambia (GPZ) President Jackson Silavwe has charged that the New Dawn Government’s economics are making life hard for majority Zambians.
Mr. Silavwe has urged the New Dawn administration to initiate economic policies that favour local people and not punish them.
He noted that Zambia’s economy has been extremely unstable due to unstable fuel prices, unstable exchange rate, high cost of living, high cost of doing business, inadequate local economic response compounded by a very driven foreign economy.
Mr. Silavwe said Zambians need economic interventions that increase their income, reduce poverty, provide jobs, afford mealie meal and transport, start high quality businesses and make them own their economy.
“New dawn economics makes life hard for the majority of Zambians. Our people’s ownership of the economy can no longer be a cliché to win votes every general election; it must become an achievable reality matched with actionable economic strategies. In the recent months, Zambia’s economy has been extremely unstable due, unstable fuel prices, unstable exchange rate, high cost of living, high cost of doing business, inadequate local economic response compounded by a very driven foreign economy,” Mr. Silavwe said.
“Zambians need economic interventions that increase their income, reduce poverty, provide jobs, afford mealie meals and transport, start high quality businesses and make them their own economy. As of 2019, the unemployment rate in Zambia was at 22.6% (ILO). Despite the Government having sung the song of ‘economic diversification’ little has been done in realizing this very important economic game changer,” he stated.
Mr. Silavwe has called for the maximum exploitation of economic sectors such as agriculture, mining and tourism in the best interest of Zambians.
He observed that agriculture in Zambia remains largely unexploited with only 15% of its potential arable land under cultivation.
“Agricultural sector represents only 2.9% of the country’s GDP and employs 50% of the workforce (World Bank). Even so, agriculture in Zambia remains largely unexploited with only 15% of its potential arable land under cultivation. Maximum exploitation of the agriculture sector would bring the Country FOREX, jobs, enough affordable food for household level consumption and arrest the high cost of living for our people. At the same time, when we are advocating for an improved agriculture sector, it is vital for the Country to also produce farming inputs locally to provide skilled jobs in the sector,” Mr. Silavwe said.
He added that the mining industry needs urgent policy reforms that would benefit Zambians.
Mr. Silavwe said Zambians have the capacity to run the mines but lack the support of the local political leadership.
“Industrial sector is estimated to account for 34.9% of GDP and 11% of employment. Major industries in Zambia include copper mining, and processing, construction, beverages, food, textiles; chemicals remain largely in foreign hands. Local industrialisation of these sectors would result in massive employment opportunities and a stable local economy. Mining industry needs urgent policy reforms that would benefit Zambians and make them priority in the running of these firms and collection of representative taxes. GPZ strongly believes that Zambians do have the capacity to run the mines but lack the support of the local political leadership,” he said.
Mr. Silavwe emphasised that Zambians alone hold the key to economic transformation of the nation.
“Tourism remains largely under-utilised although it has massive potential to bring in more revenue for the country aside from job opportunities for our people. At the Golden Party of Zambia (GPZ) we believe in Zambians that they alone hold the key to the economic transformation of our Nation. We urge the new dawn Government to initiate economic policies that favour our people and not punish them,” he concluded.