‘2015 Budget solid’
Published On October 16, 2014 » 1749 Views» By Davies M.M Chanda » Business, Stories
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THE proposed 2015 Budget is solid and inspires hope because it?has addressed most of the economic concerns for stakeholders, the?Livingstone Chamber of Commerce and Industry has said.
LCCI president Miles Daka said the Government`s efforts in revitalising the grappling manufacturing industry in the country were commendable.
He said Finance Minister Alexander Chikwanda’s announcement that the?Development Bank of Zambia (DBZ) would be recapitalised for it to?continue disbursing funds to Small and Medium Enterprises (SMEs) was comforting.
The Government’s move to compel individual Government ministries to start procuring locally produced goods and services will give a strong foundation for formation of manufacturing industries.
“ This will ultimately increase competition among players which will result in quality goods being produced to meet expected threshold of quality standards,” Mr Daka said.
He said the proposed setting up of industrial clusters will revamp Livingstone and other towns once implemented.
“Livingstone currently has potential for growth. Once the Mulobezi Rail line is completed, it will be a conveyer of timber, livestock, agro products and various related economic goods hence the need for manufacturing processing plants to be established,” Mr Daka said.
He also said the proposed merger of Public Private Partnership (PPP) unit with Zambia Development Agency (ZDA) would greatly help the Government in attracting more private sector participation in both bankable and non-bankable infrastructure development.
He said there was need to work on mechanisms that would attract quality tourists coming into the country with pre-arranged spending patterns.
The move to remove the customs duty on aviation fuel would ease a lot of costs associated with running the complex sector.
“Government should now take advantage that most of its airport infrastructure has been worked on and this is a chance for them to finalise all pending issues in the aviation industry and launch for a National Airline.
“The formation of a national airline will boost tourism as it will be used as a marketing tool in promoting the country`s rich culture and heritage,” he said.
Mr Daka said the Government should increase funding for tourism for both marketing and infrastructure development.
“Above all, the 2015 Budget is a solid document panelled in all angles expected to meet everyone’s expectation,” he said.

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