Business

‘Effective extractive law will safeguard natural resources’

KELLY NJOMBO and ESTHER MSETEKA, Lusaka
A LOCAL economic think tank on trade and investments has called on Government to provide an update on the revision of the law that governs the oil and gas industry to realise adequate revenue from the sector.
Centre for Trade Policy and Development (CTPD) policy leader on extractives and development Natalie Kaunda said putting in place an effective extractive law will help to safeguard the country’s natural resources and boost economic growth.
Mrs Kaunda said it is important for Government to invest more resources in the sector to enable the country to witness tangible benefits from the industry.
“CTPD remains keen on finding out how far the Ministry of Mines has gone with regard to the revision and development of the Act that governs the oil and gas sector.
“While we do understand the complexity and nature of the explorations in terms of timings, we think that it would be wise to work around ensuring that the legislation is finalised in a timely manner,” she said in a statement READ MORE

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