ZAMBIA’S ECONOMIC PROBLEMS CAN ONLY BE SOLVED BY HOMEGROWN SOLUTIONS
….says UPND Government is contradicting itself by giving foreign investors tax holidays while begging for foreign aid – REAGAN KASHINGA
MUFULIRA… Wednesday, April 3, 2024
Socialist Party (SP) Copperbelt Provincial spokesperson Reagan Kashinga has charged that the debt restructuring deal will not in any way help to resolve the economic hardships Zambia is currently grappling with.
Mr. Kashinga said Zambia has remained with a huge burden despite claiming the restructuring deal.
He said Zambia’s economic problems can only be solved by homegrown solutions and proper utilisation of mineral resources.
“As Socialist Party (SP) on the Copperbelt, we hereby add our voice to the issue of Debt Restructuring which the UPND Regime wants to use to gain cheap political mileage. From the onset we wish to state that there is nothing Zambia will gain from having its huge debt restructured by the creditors. This is simply postponing problems and throwing them to the future generation. It is a fact that Zambia remains hugely indebted to its creditors despite the clinched Debt Restructuring deal. We still have a huge debt burden worsened by the UPND Government’s insatiable appétit to borrow more money,” Mr. Kashinga said from Mufulira.
He noted the UPND Government was contradicting itself by giving foreign investors tax holidays while begging for foreign aid.
“Actually the UPND regime of businessmen has borrowed more in the last two and half years compared to the last regime. We can’t even see the positive impact of the UPND’s borrowing because mealie meal prices are still high, fuel is still high, the kwacha remains weak and the cost of living continues to skyrocket. Over dependence on foreign aid and foreign ideas will not in any way help to develop our beloved country. The Government of President Hakainde Hichilema is busy giving tax holidays to foreign investors while going back to their countries to beg for kaloba and Debt Restructuring. This Government has contracting policies that are not working for the people of Zambia,” he said
Mr. Kashinga concluded:”Like, our leader Comrade Dr Fred M’membe has been saying President Hichilema’s love for foreigners at the expense of Zambian brothers and sisters is sending Zambia backward. Finally, as Socialist Party we urge the people of Zambia to redeem themselves from this regime in 2026. People have seen that this Government is not people centred.”