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Suspension of duty on concentrates cheers expert

GOVERNMENT needs to extend the suspension of import duties on concentrates and export duties on precious metals even after the Covid-19 is contained to give a relief to the struggling mining companies, mining expert Edward Simukonda has said.
Mr Simukonda said mining companies were chocked by numerous taxes which were preventing them from expanding their operations.
He said in an interview yesterday, it was prudent that Government gave a breather to the mines for them to contribute significantly to the economy by improving their operations.
Minister of Finance Dr Bwalya Ng’andu announced yesterday that Government had resolved to suspend import duties on concentrates and export duties on precious metals.
Dr Ng’andu said this was arrived at following the outbreak of coronavirus which had affected a number of economies across the world.
But Mr Simukonda said Government should maintain the suspension even when the outbreak was contained to give chance to the mines to expand their operations.
He said running mining companies was too expensive and as such mine owners needed relief for the companies to be able to contribute to the growth of the economy.
“Many companies are not producing like we expect them to do because taxes are choking them it is important Government comes to their aid.

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