By Merlyn Mwanza
Finance minister Dr Situmbeko Musokotwane says Zambia is a highly indebted country with limitless needs which cannot be fulfilled at once.
Responding to a question in parliament on the recapitalization of Indeni, Dr Musokotwane said K400 million required for the recapitalization of Indeni was a lot of money, which was not available right now, saying the country’s needs were almost limitless.
He also said there was nothing on the K255 million earmarked for recapitalization of state institutions, and it was also not possible to put money into Mopani as mining companies consume a lot of money which the country does not have.
But asked on the fact that K50 million was earmarked for Luiwa National Park in the 2022 national budget, the same amount which has also been allocated for the park in the 2023 budget despite it being in the hands of a private investor, Dr Musokotwane said there were extra bridges that were being created on several streams in order to extend the tourism season for tourists.
He said the country was highly indebted and choices have to be made.
But Chienge independent member of parliament Given Katuta countered that while there was talk of the Kwacha maintaining its strength against other major convertible currencies, the cost of living was very high such that to fill up the fuel tank for her vehicle was a challenge.
said the government could not longer manipulate the strength of the Kwacha at the expense of the suffering masses.
She said government kept talking about employing more people yet some of those employed were not even on the payroll.
Kamfinsa member of parliament Christopher Kang’ombe said the same incentives given to foreigners should be extended to Zambians who want to engage in business, but the cost of borrowing was very high despite the government having indicated that they would reduce on local borrowing for the benefit of locals.
