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Scrap off incentives in the mines – PeP


THERE is need to scrap off incentives in the mines in order for government to recoup maximum profits when the Copper prices were fetching at a very good price, Patriots for Economic Progress (PeP) president, Sean Tembo, has said.

Mr Tembo said that it did not make sense   for President Hichilema to give tax holidays to investors at the time when the country needed to collect revenue since the Copper prices were high.

He said this when he appeared on Radio Phoenix’s Let The People Talk program yesterday.

Mr Tembo said there was need to investigate why the head of state and his Finance minister took this route over the mines.

“The government has subsidized the mines reduced the ability to earn enough money to repay the loans that have been accrued by the country,” he said.

Mr Tembo said that the President had indicated about the IMF deal even before he constituted his cabinet, sending an impression that it was a preconceived move.

He said that giving a tax holiday did not add up and that most Zambians did not understand the rationale behind it.

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