Burning of market can negatively impact the economy – CTPD

Sat, 08 Jul 2017 12:57:35 +0000

By SIMON MUNTEMBA

THE burning of the Lusaka City market has a number of spinal effects on the economy, especially that it supported the informal sector which currently employs the larger percentage of the Zambian citizens, says the Centre for Trade Policy and Development (CTPD).

And the CTPD has charged that deteriorating political environment and measures that were now being explored to resolve the situation was worrying. In a statement, CTPD executive director Isaac Mwaipopo who expressed sadness on the burning down of the City Market said the market provided a means of livelihoods and employment for many struggling Zambian families. Mr Mwaipopo appealed to well-meaning Zambians, especially the business community to come to the aid of the traders and help them rebuild their lives as most of them had struggled for many years just to build their businesses.

“CTPD joins the nation in expressing its sadness on the burning down of Lusaka City Market. “The burning of the market has a number of spinal effects on the economy, especially that it supported the informal sector which currently employs the larger percentage of the Zambian citizens. “It is also our hope that as the investigations are still going on, rightful owners of the stands will be identified and their stands will not be taken away by political cadres who may want to take advantage of the situation,” Mr Mwaipopo said. Mr Mwaipopo, however, noted that the political challenges and failure to dialogue and reach an amicable solution that had persisted for a long time may negatively impact on the Zambia’s recovery plan.

He added that lack of dialogue among political leaders had the potential to negatively impact the recently launched Seventh National Development Plan that seeks to promote inclusive growth that would leave no one behind.

“We understand that the road to economic recovery will be long and tough and there is need to have everyone on board so that the nation can navigate through the rough path and get the nation back to track.

“But CTPD is afraid that with the ongoing political differences, attention and energy is being diverted from the real problems this economy is suffering from such as high poverty levels,” he said.