. Dodia
By CHARITY MOONGA –
PRIVATE Sector Development Association (PSDA) Chairperson Yusuf Dodia has called for the re-introduction of the recently scrapped Statutory Instrument (SI) 55 if Zambia is to continue benefitting from proceeds of the mining industry, including Konkola Copper Mines (KCM).
Mr Dodia said in an interview that through the SI 55, Zambia was assured of making US$7 billion every year.
Last year, Finance minister Alexander Chikwanda signed SI 55 on balance of payments which empowered the Bank of Zambia to monitor inflows, outflows and international transactions.
The SI was later this year revoked due to challenges in the implementation of the instruments.
Mr Dodia accused some mining firms, the cement industry and other private organisations, of having pushed for the scrapping of SI 55 for their own benefit.
He also condemned the cheap sale of KCM, saying the mining giant should have been sold by open tender.
He explained that introducing windfall tax will not benefit Zambia as much as re-introducing the SI 55 as Zambia will only benefit $400 million every year as opposed to $7 billion which would be realised with the re-introduction of SI 55.
Mr Dodia further called for the introduction of toll fees on major roads leading to mine towns so that more money was realised for the economy and maintenance of the same roads.
