From flight of capital because all proceeds from our mineral exports are banked in western banks in America and Europe and we have to beg the mining companies to pay return some of the money to Zambia as taxes at the depressing level of 3% only.
The other important proposal contained in the PF manifesto is the establishment of a bank which will give loans to Zambians at affordable interest rates. All leading businessmen in this country have agreed that they high interest rates charged by the foreign banks operating in Zambia restricts Zambians from participating in the economy.
When fully implemented the PF programmes will eradicate poverty amongst all Zambians. The only way the hardships we have been suffering as a nation can only come to an end through sustained institutional reform.
It will be foly for this country to interrupt the strong foundation that the PF government is building for a more prosperous nation. Other parties may try to hijack the PF programme but cannot certainly do what they did not conceptualize or plan. In fact the opposition have all said that what they PF is doing is rubbish but they have not given any radically different programmes.
The PF government has also made some promises outside the manifesto. Prominent among these promises is the relief of civil servants from paying back the loans they have borrowed from lending institutions.
This is a very pragmatic promise unlike the other parties’ promises which are more speculative than real. Those parties making the speculative promises cannot be held to account after the election.
In the case of the PF, civil servants have representation through their unions and the promise to take over the loans is backed by recognition agreements between the unions and the government.
Every country in the world talks about infrastructure and borrows money to develop and maintain the infrastructure. The United States of America Biden administration has proposed a three trillion dollars infrastructure development programme for the next three years; some of the money required for development will be borrowed through bonds and treasury bills, Zambia is doing the same.
The PF social programmes and development strategy deserves favourable consideration. It is more nationalistic and will put more wealth into the hands of citizens than the promised personal solutions of individuals.