Business

Taxes should not affect jobs

KALONDE NYATI, Lusaka
THE proposed taxes should not be used as a reason to cut jobs in the mining sector as they are necessary for the country to realise benefits from its natural resources, says Economics Association of Zambia (EAZ).
On Monday, the Zambia Chamber of Mines was quoted by Bloomberg, saying the planned mining royalty increase could lead to more than 21,000 job losses and operators cutting US$500 million in capital spending over the next three years.
In the 2019 national budget, Government plans to increase mining royalties by 1.5 percentage points across the board and a 10 percent charge, if copper prices rise above US$7,500 a metric tonne.
But EAZ president Lubinda Haabazoka said it is exploitative for mining companies to threaten to cut jobs because of the proposed taxes.
“Employees should not be used as a tool for arm-twisting Government. http://epaper.daily-mail.co.zm/

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