Africa-Press – Zambia. Patriots for Economic Progress(PEP) has said that giving the mines a de facto tax holiday at a time that copper prices are at record highs of approximately 11,000 dollars per metric tonne, was a very poor decision by the government because mines have been able to operate and make a profit when copper prices were at 3,500 dollars.
Mr Tembo says it is saddening that Zambia is not benefiting in any way from this windfall while at this point the country should have been leaping huge tax dollars from the mines.
Mr Tembo has advised the new dawn government to come up with homegrown solutions instead of depending on the International Monetary Fund–IMF- bailout package for the country`s economic turnaround, expressing concern that government has premised the entire economic plan on the IMF programme which he said if it does not come through will negatively affect the country`s economic recovery agenda.
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