By Amb. Emmanuel Mwamba
EM8 Vision on the Mining Sector
Will increase shareholding in all large-scale mines to 49%.
Will co-share and co-manage the mines to ensure that the natural resources exploitation and their value chains become genuine drivers of economic development.
We are tired of making foreign billionaires from our natural resources.
Further we will seal all loopholes allowing transfer pricing and tax cheating by the mines. Please note that no tax incentives or tax holidays will be granted as is being enjoyed today.
Zambia is currently losing $3billion per annum from mine houses and multi-nationals dodging in taxes, colluding with politicians to enjoy tax holidays, tax incentives and escape paying just and fair taxes, royalties and fees.
ZCCM-IH will take centre stage and will be entrusted to manage the new mineral discoveries and exploration and end the current confusion and plunder of gold, sugelite, emeralds and other gemstones.
These are our minerals. Not the tax holidays and 3.1% policies we are seeing! While queuing up for IMF bail-outs.
We will fire their smart African facilitators that have enabled the deep-seated fraud to take place decades after decades and use the opportunity to put truly educated, dedicated and patriotic Zambians committed to help develop this country and allow our natural resources endowment to accrue genuine benefits for our people.
Let’s walk this path together!
EM8
