….says refusal to bring back Windfall Tax perpetuating inequality…
Lusaka, Thursday (February 15, 2024)
Fight Inequality Alliance – FIA Zambia says the recently discovered copper deposits should benefit ordinary Zambians as opposed to those connected to political power.
Recently, KoBold Metals discovered the largest copper deposits ever recorded in the history of mining in Zambia of which the Two- Billion-Dollar-Mine project will be built at its Mingomba project faster and earlier than in the ten years that had been initially suggested.
FIA Zambia National Coordinator Mputa Ngalande says the Alliance has over the years helped families displaced due to mining activities.
“Zambia is a rich Country with very poor people while Government is not collecting enough revenue from the mines,” he said.
The FIA Zambia National Coordinator has appealed to Government to review policies to enhance maximum revenue collection from the mining sector following the discovery of large copper deposits.
Mr. Ngalande said the refusal to bring back the Windfall Tax and the way mines are taxed generally, remains a source of concern.
“The large copper deposits will not benefit Zambians if current taxation policies continue taking centre stage,” he said.
Mr. Ngalande said the Alliance is worried that the current trend brings about inequality as only the ruling elites and those connected to them are benefiting from the discovery of large copper deposits which is unacceptable.
Mr. Ngalande has asked those in power to be patriotic enough when discussing issues to do with taxation.
He said the Alliance has observed that Foreign Direct Investment (FDI) does not benefit ordinary Zambians but only a few that are connected to power which remains unacceptable.
The FIA Zambia National Coordinator said the discovery of large copper deposits should not see Zambia find itself in a position where it borrows more money to take the country back into debt distress like the situation is at the moment.
Mr. Ngalande said Zambia is blessed with abundant natural resources. However, contrary to what should have been the case, these resources seem to have been a curse on our country as they have only perpetuated inequality and squalor as opposed to promoting equality and prosperity among our communities.
He said the discovery of large copper deposits is an opportunity to end inequality in Zambia. Subsequently, Government’s objective should not only be to get taxes and employment but rather ensure Zambian ownership of these mines even if that means having a small shareholding stake.
