VEDANTA SHOULD NOT BE ALLOWED BACK AT KCM – SILAVWE
… says only corrupt, inept, puppets of foreign business interests can talk about returning Vedanta back to KCM.
Lusaka, Thursday, 03 August 2023 [Smart Eagles]
Golden Party of Zambia GPZ president Jackson Silavwe says it will be sucidal to hand back KCM to Vedanta Resources Limited.
In an interview, Mr. Silavwe said Vedanta should not be allowed to to run KCM at all cost because they do not have the interest of Zambians at heart.
He said when Vedanta Resources Limited was given chance to manage KCM the company failed and ended up contracting huge debts.
” Let’s not deceive ourselves, Vedanta is not a friend of the people of Zambia. It failed to deliver and acted in a manner that disadvantaged our country’s economy. We say no to the return of Vedanta at KCM,” Mr. Silavwe said.
The GPZ leader said President Hichilema should listen to the people expressing concerns about the return of Vedanta because they are in majority.
” We maintain our stance that the imminent return of Vedanta Resources Limited will be a national disgrace on our nation. We have once again demonstrate that we Zambians lack the capacity to carve our own economic destiny. Vedanta’s return to KCM is a serious indictment on our national collective intelligence or the lack of it,” he said.
He said KCM under Vedanta only benefited the owner Mr. Agarwal and his business associates, no wonder he boasted on video that KCM had been giving him $500 million every year in profit, plus an extra $1 billion since 2003 and yet KCM was declaring losses to the Zambian Government. YET KCM WAS DECLARING LOSSES TO THE ZAMBIAN GOVERNMENT.
Last week Mr. Silavwe said only corrupt, inept, puppets of foreign business interests and self serving individuals and Government can talk about returning Vedanta back to KCM.