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FORMER Deputy Minister of Finance Dr. Mbita Chitala has launched a scathing attack at the Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, accusing him of dismantling the progressive economic policies implemented by former President Edgar Lungu.
Dr Chitala specifically condemned the significant tax breaks afforded to mining companies under the UPND government.
“The loss of revenue as a result of unjustified tax incentives given to the mines, and the failure by Dr Situmbeko Musokotwane to recover $2.5 billion owed by Kansanshi Mine, makes Musokotwane the most dangerous man to this country,” he said.
Dr Musokotwane also expressed disappointment that President Hakainde Hichilema continues to retain him in such a pivotal role.
“It is most disappointing that President Hichilema still retains him as Minister of Finance and National Planning. The tragic failure of Musokotwane as minister can only be explained by his track record in government service,” Dr Chitala noted.
Dr Chitala reflected on the past, noting that Dr Musokotwane “betrayed President Levy Mwanawasa’s economic programme” shortly after his appointment by President Rupiah Banda.
“In 2009, Musokotwane abolished the windfall tax regime, which shocked all cooperating partners, including the IMF and World Bank,” he said, calling this move a “clear betrayal” of Mwanawasa’s legacy.
He criticised Dr Musokotwane’s fiscal policies, stating, “He reduced mineral royalties from three percent to 0.6 percent, effectively allowing multinational companies to plunder Zambia without any benefit to the nation.”
Dr Chitala also lamented Dr Musokotwane’s borrowing practices, claiming they led Zambia deeper into debt, from $502 million in 2008 to over $18 billion by 2022.
Dr Chitala also pointed to troubling decisions made by Dr Musokotwane, including a controversial agreement with Kansanshi Copper Mine that compromised Zambia’s revenue rights.
“This measure not only adversely affects the rights and power of ZCCM-IH, but it also limits Zambia’s ability to utilise its forex income effectively,” he warned.
Dr Chitala said Dr Musokotwane’s actions threaten Zambia’s economic sovereignty.
“For this and many other transgressions, many of us believe that Musokotwane has not been our best Minister of Finance.
He has worked to benefit multinational companies at the expense of Zambia,” he declared, emphasising that the current government risks perpetuating a cycle of dependency on foreign interests.
