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Zambia Would Have Realized K4 Trillion Had Windfall Tax Re-Introduced- HH

United Party for National Development (UPND) leader Hakainde Hichilema says the country could have realized about K4 trillion if the government had reintroduced the windfall tax for mining companies.

Mr. Hichilema says the money collected from the mines in form of tax could have been channeled into infrastructure development in the country.

The opposition leader observes that investing in infrastructure would have helped in reducing the cost of doing business in the country.

Mr. Hichilema adds that this would have further encouraged the private sector to participate in the economic activities that would among other things contribute to job creation.

He has told QFM news that the PF government does not seem to have a clear policy on investment citing the take over of Zamtel as one example that makes the government’s position on foreign investment questionable.

Mr. Hichilema notes that government should be mindful in the way it handles cases involving companies suspected to have been corruptly sold to ensure that investor confidence is not eroded.

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Posted by on June 1, 2012. Filed under HEADLINES. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

67 Responses to Zambia Would Have Realized K4 Trillion Had Windfall Tax Re-Introduced- HH

  1. Pf

    June 1, 2012 at 9:35 am

    He has talkd real sense

  2. MUNYELO PWETE!

    June 1, 2012 at 9:38 am

    Talk, Talk from our infamous under 5 as usual! With charismatic Nevers Mumba coming on the scene, this chap should just hang up politically! The chap just doest have that magic to draw peoples’ attetion compared to our fallen hero Kambela Mazoka! The problem with our under 5 is that chikala kuti uku aleya, uku alenya masushi!

  3. mukabene

    June 1, 2012 at 10:03 am

    aba bane echipuba pama economist bonse twakwata

  4. Lunda Headman

    June 1, 2012 at 10:06 am

    Thats real sense HH

  5. bacholar

    June 1, 2012 at 10:11 am

    that sense hh

  6. FBI

    June 1, 2012 at 10:13 am

    I suspect this shitty government to be corrupt, how can they turn against re-introducing windfall Tax,FUCK THEM ALL ASSHOLES together with HH !!

  7. isaac

    June 1, 2012 at 10:32 am

    hakainde what if you introduce the wondfall tax today and the next day the mine owners closes them.being an economist does not mean that you are a magician. you have to think hakainde before you talk this is not the way you can get the people’s attention.you do not introduce the windfall tax any how you must find yourself back to square one.

  8. .

    June 1, 2012 at 10:33 am

    @pwete ati shani apo!”uku aleya, uku alenya masushi!”

    muleumfwa bane.. mulefwaya uku aleya uku alenya ama Bhanzi nangu ama sim cards

  9. .

    June 1, 2012 at 10:41 am

    @isaac goob point..What we Elders can see while sitting, young ones can not c them even wen they climb on top of their tallest bull

  10. Mpangula Mputyu

    June 1, 2012 at 10:41 am

    This Country has Money Thru and Thru.what we lack is resource (wealth) utilization and generation.Zambians busy escorting Foreigners taking away wealth outside of this Country daily.

  11. Ken Kadansa

    June 1, 2012 at 10:46 am

    let us have a look at 5 out of the numerous lies told before the last elections,

    1. Re-introduction of wind fall taxes within 90 days

    2. Restoration of the Barotseland agreement

    3. Creation of jobs ( They said the chinese would go)

    4. New constitution ( within 90 days)

    5.No load sheding

    Bunch of idiots!!

    4.

  12. moonga

    June 1, 2012 at 10:50 am

    YOU WANT OUR MINES TO CLOSE?
    WE MBWAA IWEE !
    UKATUSUNGILA ABANA IWEE KACIKALA?
    TOMBANOKO!

  13. GK

    June 1, 2012 at 11:12 am

    Moonga, be civil you fool.

  14. GUN

    June 1, 2012 at 11:19 am

    Keep talking my boy,that is why you are there nothing more.

  15. Gk and Moonga you're same!

    June 1, 2012 at 11:29 am

    Gk and moonga you are same !
    Both with foul mouths.

    Anyway,hh should grow up coz we have had enough of this debate so those close to it,they know the implications.
    many have campaigned using it so what guarantee zambians have that the one using it today is not cheating us again?
    SO HH SHOULD FIND SOMETHING ELSE.EVEN GROWING UP WOULDN’T BE A BAD IDEA!

  16. Faraja

    June 1, 2012 at 11:46 am

    Charles sikozi naiwe panga ka part ulelota nga HH

  17. umuntu for Zambia

    June 1, 2012 at 11:47 am

    amano yafuma mwifwesa ya ya muchulu good point

  18. Wanyafye Tigers 1 vs Anzhi Makatchkala 3

    June 1, 2012 at 11:57 am

    I will agree with badaala ba HH on windfall tax. We need something to show our children as what we received for the huge holes we are creating while mining minerals.

  19. Lopwes

    June 1, 2012 at 12:07 pm

    Wind fall tax is not good in developing nation like ours.so please lets talk something of value and let,s stop insulting our politicians this is not the time for campaigns but time to offer checks and balances to those in power.concerned PF cadre

  20. Yes we will 216

    June 1, 2012 at 12:08 pm

    HH for 2016. Viva you are the man,

  21. sata

    June 1, 2012 at 12:11 pm

    To My fellow fool zambians who hv stuck their minds 2 90days change, evn God hd 2 consult his coligz by sayng lets creat…. lets make…. cobra cnt tok 2 evry stakeholder in 90days. mc is naturally intelligent, wise & brave unlik dis seniour fool Hakaivotela Himwine whom his wif cnt support him in his political affairs he z busy misleading shallow minded pipo like myself. watchout zambians!

  22. gregory

    June 1, 2012 at 12:18 pm

    hakainde hichilema sees a room for improvement of our economy since he is outside the governance system the moment has a chance of becoming a president, he will be the waste leader ever, since the man has never been a simple councillor.mind you we are talking about national governance not an entity.

  23. Yes we can

    June 1, 2012 at 12:21 pm

    That is my economic manager HH. PF have no clue on how to go

  24. Narrant

    June 1, 2012 at 12:22 pm

    Had government introduced windfall tax HH would have introduced angst against the decision. Nothing anything PF government does will sit favouarably with HH.

  25. Yes we can

    June 1, 2012 at 12:24 pm

    You do not need to be a councillor or mp to be president. Look at Sata. The so-called most experienced poltician. No clue on anything. Viva HH

  26. Stanley

    June 1, 2012 at 12:40 pm

    This is how Mr. HH is supposed to comment on issues,
    constructive comments, not his usual out of the blues comments which lives me thinking wether this man is realy educated…
    seroiusly i am P.F for life but i strongly demand that the government explain why they can not reintruduce winfal tax, what they have been saying are mare excuses..explain the economic implecations this kind of tax will bare on our economy…

    we need to know…these mining companies are taking a lot of money to thier countries and we are left with nothing at all

  27. CHIBS LEC

    June 1, 2012 at 12:48 pm

    HH,being in opposition does not guarante u to be opposing to every sensible things U under 5.U wil neva be a President Pa ZED.Just continue looking after your cattles ninshi shilekunyela amasushi!!!

  28. Tupac

    June 1, 2012 at 1:03 pm

    Fikala,mapolo yanu bonse mwebalesapota ka HH.You ill know pama bye elections ati we are pf and that you re no longer existing bafikala.Hakaitombela Heka stop dreaming chikala.

  29. John kabengele

    June 1, 2012 at 1:18 pm

    Just shut up ingombe illede, you will never rule.
    You have no feathures to rule, sorry

  30. kopala

    June 1, 2012 at 1:20 pm

    @isaac the foolish miners would not close the mines. they would have closed during mwanawasa. they know zambians are sleeping and can manage to urinate on zambians and take all the money while zambians are fast asleep..go to nambia and see how they are managing there minerals then you will see that zambains are fast asleep. When people like HH speak sense instead of taking his advise serious foolish zambians are busy criticising him no wonder only in zambai will you find welders and bricklayers being brought in by miners because zamabians are no only foolish but are fast asleep. you go in all comapnies you will not fing a zambian CEO by foreigners while zambians rae bussy roaming the streets looking for jobs. zambian are a cursed and will continue wallowing in poverty while their country has a lot of worthy. sleep zambians are a cursed people only good a

  31. nyatu

    June 1, 2012 at 1:32 pm

    hh what ever they call u just take a look at yr self no one who weist time to vote 4 u, u dot hav caribar upnd u dot hav pipo wo can contradict esues

  32. Mwanarob

    June 1, 2012 at 1:53 pm

    HH is very right. Windfall taxes are the most fair taxes you can ever have, especially for our third world countries. I have explained this before to many of our past and some current leaders, even this one who collapsed recently. When an investor comes into, say, Zambia, the Ministry responsible, Mines in this case, will agree on several things, e.g. Environmental protection, employment, procurement, project economic/financial model (ECFM). In the ECFM, the line Ministry agrees a Project Internal Rate of Return (IRR) with the Investor. This means that at that IRR, the Investor would have recouped all his money invested plus all costs with an additional 15% on top of all his costs if the agreed IRR was 15%. It can be any number, the main thing here is industry standard and negotiating skills of the Govt reps. The rest of the the monies above the 15% would be considered as Windfall profits, which must be shared with the host Govt and eventually the people of Zambia. All the investors know this. I have been in negotiations out of the country where this has come up and all investors have agreed to pay Windfall Faxes otherwise known as Additional Profits Taxes. It is just fair for the investor to share the extra money, which he did not even expect to earn with the host country. Please fellow Zambians, let us Love our country. Forget parties affiliations and stop the insults. HH is right on this one.

  33. Nationalist

    June 1, 2012 at 2:00 pm

    Whatever HH says will never be accepted especially if the reader is a Kolwestan. They never see any sense in anything sooken by a non-bemba. This time around HH is right. These Mines are reaping big tym.

  34. Big Ken

    June 1, 2012 at 2:03 pm

    Ka HH. Mines do not even make such for profit how do you windfall from nowhere you Under 5

  35. Nationalist

    June 1, 2012 at 2:24 pm

    Whatever HH says will never be accepted especially if the reader is a Kolwestan. They never see any sense in anything spoken by a non-bemba. This time around HH is right. These Mines are reaping big tym.

  36. Baambile banyumfwe

    June 1, 2012 at 2:32 pm

    Why is it that some of you just want to insult, even wheh one is talking sense. You are not reading the directions of things inteligently you will be surprised because HH is gainig ground with the current hapenning now. Because all the Monkeys want to climb to the top and fight in doing that they have shaken all the good fruits. and HH is picking them to eat in the rain season watch out ba KOLWE IMWE

  37. Nasty G-string

    June 1, 2012 at 2:45 pm

    HH chikala chobe….U will never rule zed over yo daed cow.

  38. nayo

    June 1, 2012 at 2:48 pm

    pafwaka with your satanyoko

  39. LWIINDI

    June 1, 2012 at 3:34 pm

    tumfweko PF supporter. where are my comments,RUBBISH

  40. Kuntez

    June 1, 2012 at 4:10 pm

    Guys in as much as HH is infamous and under 5,in this case his talking sense.If one really understands the logic behind windfall tax,they cant make any fuss about introducing it…God help our beatiful mother land,including the danda heads blogging without insite!!!

  41. Umuntunse

    June 1, 2012 at 4:22 pm

    Guys apo pa mulu ati shani? alinga nga aleenda alenya ing’ombe…lol

  42. doc b

    June 1, 2012 at 4:52 pm

    HH chikala u ar bitter bcoz u lost,we wil neva give this country 2 tongas they ar cowards.its eastern,northern exchanging state house.

  43. Abaakaabaa!

    June 1, 2012 at 5:00 pm

    yaaaaaaaaaaaak this man ainnnnnt nutttting butttt crupppppp and a criticccccccccc!!!!!!!!!!

  44. Chanda chiimba 111

    June 1, 2012 at 5:26 pm

    HH has raised a very serios point only that PF is allergic to critisism! They are not a democratic party as compared to both Banda and Chiluba was.Even Mwanawasa who had a heart problem tolerated SATA and HH’s cristism at times.Those that are insulting HH are either too dull to debate windfall tax matters or their relatives are in power so they have to defend even VA matuvi.Or perhaps,they easily forget like chickens that PF promised the same. HYPOCRICY AND DULLNESS at work.

  45. 1 ray

    June 1, 2012 at 5:28 pm

    KACHIKALA.ITEKA WEKA KA SITANYOKO.

  46. oxmos

    June 1, 2012 at 5:29 pm

    i have enjoyed the debate,go on bane,i want to see your IQ

  47. 1 ray

    June 1, 2012 at 5:48 pm

    WU EVER IS UZIN MY NEM SITANYOKO,KAKUTOMBAPOFYE NGOLEANGALA NAINE.

  48. 2720

    June 1, 2012 at 6:03 pm

    Silly hh.

  49. hakalumbwe bestman

    June 1, 2012 at 6:44 pm

    Our Zambia Obama we need in 2016 go,go zambia we need a leader of who is able to create improyment.

  50. Tekele

    June 1, 2012 at 7:31 pm

    HH i am with you to make sure you are finished, stop dreaming