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HH: Failure to Reintroduce Windfall Tax will Result in Continued Suffering for Zambians
Opposition United Party for National Development (UPND) President Hakainde Hichilema says the failure by the PF Government to introduce windfall tax even in the wake of revelations by Vedanta resources Chairman Anil Argawal that Konkola Copper Mines makes over $500 million profit per year will result in continued suffering for Zambians.
Mr. Hichilema says it was expected that government would reconsider its position on windfall tax in view of revelations by the Vedanta Chairman.
Mr. Hichilema says the PF has proved that it is not fairly representing the people of Zambia over the KCM issue.
He says it is a known fact that the Zambian people are not benefiting from the country%u2019s mineral wealth.
And MMD President Dr. Nevers Mumba says the PF government’s lack of capacity to collect appropriate taxes is a scandal.
He says the MMD strongly condemns the mocking comments made by Vedanta Chairman Anil Argawal on how he bought KCM for $25 million.
And Former Finance Minister Ng’andu Magande says people could not be wrong if they said Mines Minister Christopher Yaluma is defending Mr. Argawal from the way he is handling the whole issue.
Posted by
leave me alone
May 22, 2014 at 4:09 pm
Just what is so scaring to introduce this tax? When PF was in opposition they talked as if this would be their priority. What happened?
****** idiots, (as Kaunda would say)!
Ken
May 22, 2014 at 4:41 pm
@HH; Even if you have to lie to get to state house in your view, you must be ashamed sometimes. You are an economist and therefore better placed to sense the economic trends before you can hope to impose somthing.
The copper price is currently lower than it was when Levy introduced the Windfal tax. It will be suicidal for us to do this now. I can asure you that once the economies price go up again, the Mines will pay.
Isaac
May 23, 2014 at 7:15 am
Very correct my man. What if all the investors fold their luggage and go? Little sometimes is better than nothing.
kakolwe
May 22, 2014 at 8:21 pm
What is the difference between Hakainde & Argawal? Because they both bought Zambian companies for a song and have made Billions while the owners of the land are wallowing in poverty.
Isaac
May 23, 2014 at 7:17 am
They are one and the same brother. As a liquidator, Akainde took all the money to himself!