By Jane Chanda
Economist Shenford Siamutwa says there is need for a clean and efficient tax regime, as well as the eradication of corruption, to ensure that the mining sector contributes significantly to revenue collection.
In an interview with Daily Revelation yesterday, Siamutwa said the country needed decision-makers and policy implementers to put their houses in order and address corruption issues.
He said Zambia’s economy was heavily reliant on the mining sector, which contributed close to 85-90 percent to the country’s Gross Domestic Product (GDP).
Siamutwa said mining had been the backbone of Zambia’s economy since inception, and it was essential to recognise its significance.
He emphasised that government policy played a crucial role in balancing the economy and ensuring that investments benefited citizens.
“We need to examine both monetary and fiscal policies to ensure that public resources are spent effectively to revamp the mining sector,” he said.
Siamutwa cited the current load shedding and the potential of Maamba Collieries to address electricity generation as an example of where fiscal policy could make a significant impact.
“Government should invest in expanding Maamba Collieries to ensure a stable power supply for households and the mining sector,” he said.
Furthermore, Siamutwa highlighted the discovery of the Mung’omba project in Chililabombwe, which had the potential to drive economic growth for the next 100 years.
“If we harness this project well and maintain a balanced extraction industry, Zambia could become the next Dubai in a few years,” he predicted.
Siamutwa stressed the importance of a healthy workforce in driving productivity in the economy.
He further noted that the health sector, which had been plagued by corruption, required urgent attention.
“We need a clean and efficient health sector, free of corruption, to ensure a healthy workforce and drive economic growth,” said Siamutwa.
