Business

revise the mine tax regime – Hamududu

MINING in Zambia history and future indicates that on a small scale, the mining activities by the natives were widespread across the Copperbelt region and other places

KALONDE NYATI, Lusaka
GOVERNMENT has been urged to revise the mine tax regime for the mining sector to significantly contribute to increased revenue and help address the debt challenge facing the country.
Former parliamentary public accounts committee chairperson Highvie Hamududu says the mining sector could be the solution to the current debt situation.
Recently, Zambia could not make interest payment on one of its Eurobonds as it continues to grapple with the adverse effects of the COVID-19 pandemic.
Mr Hamududu, who is also Party for National Unity president, said if fully utilised through favourable policies, mining has potential to maximise the country’s revenue than any other sector.
“With all the potential we have in the mining sector, we cannot be dancing to bondholders of US$3 billion as a country. Dangote alone can pay the same money. We have the capacity to clear the debt,” he said during the Economics Association of Zambia economic forum on Thursday evening.
Zambia’s debt is almost US$12 billion and it comprises commercial, which is mostly Eurobonds, as well as bilateral and CLICK TO READ MORE



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