Opposition Members of Parliament have taken turns in advising Finance Minister, Alexander Chikwanda to withdraw a motion seeking to raise the countryâs debt ceiling. This was after Mr. Chikwanda moved the motion that seeks Parliamentâs authorization for him to increase on external loans from twenty billion kwacha to thirty-five billion kwacha re-denominated currency. But Kalomo Member Of Parliament, Request Muntanga objected to the motion, saying Zambia risks plunging into the highly indebted poor country if there is no stop to continuous reckless borrowing. Mr. Muntanga says the country needs to look at other means of revenue mobilization and collection other than continuous borrowing and what he termed politics of appeasement And Lubansheshi MP Patrick mucheleka warning posterity will judge the current leadership harshly if the motion will be let to go ahead. He says mining sector is the only option for resource generation but governmentâs reluctance to strengthen tax administration is of concern. Meanwhile, Solwezi Central Lucky Mulusa called for an immediate withdrawal of the motion saying going ahead will haunt future generations. Chipata Centralâs Mutolo Phiri and Mafingaâs Catherine namugala says PF must not find pleasure in taking the country into another debt trap. The parliamentarians Calls for diversification of the economy to areas like agriculture and tourism, other than copper dependence to broaden the countryâs tax base. Musokotwane who is also worried with the countryâs borrowing, told parliament that he suspects the country has a much bigger debt to the tune of about 3.7 united states dollars other than the 3.2 dollars being publicly been declared by government. He urged the government to find ways of generating resources other than borrowing.
Posted on: Wed, 27 Nov 2013 16:46:44 +0000
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