‘Remove policy on dollarisation’

Zanaco building.

GOVERNMENT should remove the policy on dollarisation of mining taxes because the measure has stifled activity in the foreign exchange (FOREX) market and has failed to stop depreciation of the Kwacha, Zanaco Plc economists have said.
On June 4, 2020, Government dollarised all mining sector tax obligations that compelled mining firms to deposit forex directly to the central bank, instead of commercial banks.
This move was widely perceived as one to help in improving the country’s international reserve position, especially that the price of copper, the county’s main forex earner was on an uptrend.
However, economists at Zanaco Plc have argued that it is time for the new dawn administration to make CLICK TO READ MORE

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