ALLOW THOSE WITH MANDATE TO LEAD, URGES MINING EXPERT

By Isaac Zulu

Mining expert Victor Kalesha has said that the newly introduced royalty tax model at Kansanshi Mine should not be politicised.

Kalesha, in an interview, commended government for coming up with the royalty tax model, saying it will “allow the country to significantly benefit from its mineral resources.”

He said that the UPND government must have had an after thought over the issue and deliberated with technocrats before arriving at such a decision.

“As people we should allow the people that have been given the mandate to govern to lead and guide. For me the 3.1 per cent royalty tax model is commendable because it will allow the country to significantly benefit from our mineral resources. I am sure government must have had an after thought and deliberated with technocrats before coming up with that tax model. No government would come up with a tax model that would disadvantage the citizens of the country or would negatively affect the development of the country, economically or otherwise. So people should not politicise the newly introduced royalty tax model at Kansanshi Mine,” Kalesha said.

He urged the general citizenry to be patient with government as the royalty tax model is being implemented.

“We need to be patient and see how this tax model will work. And if it works well for the benefit of the the general citizenry, then it should be replicated in other mining companies for the benefit of the general populace,” said Kalesha.

On Tuesday Finance Minister Dr Situmbeko Musokotwane announced a tax transition at Kansanshi Mine, introducing the 3.1 per cent royalty tax model, which he said is predictable, guaranteed and consistent.

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1 Comment

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  • THE SAINT , December 7, 2022 @ 8:21 pm

    This is like what most Zambians who own taxis do. They tell the taxi driver to cash in a specific amount every week. If the taxi driver makes more, that is his benefit, he takes the extra with him. If he makes less, that is his loss. So, the driver works harder to always make more. The mines were asked to pay a dividend. That did not always happen. But now they will be forced to cash in the money no matter what they produce or do not produce. Good idea!
    Meanwhile, my shares in FQM have gained 30% in value over the last 3 years! I would encourage all Zambians to get on the Stock exchange and buy shares and stocks.

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