Q FM Africa's Modern Radio
Republican President Edgar Lungu has directed mining companies to immediately implement in full the participation of Zambians in the mining supply value chain.
Speaking when he opened the 58th Copperbelt Mining Agriculture and Commercial show in Kitwe this afternoon under the theme “Maximize Development to Sustain a Strong Economy”, President Lungu says the participation of Zambia in the entire mining value chain is critical if the country is to maximize benefits from the sector.
President Lungu says government is enhancing the necessary policies and regulations to promote effective participation of Zambians in the mining supply value chain in order to create more wealth.
He adds that the utilization of the country’s mineral wealth should encourage other economic activities that will benefit the Zambian people.
President Lungu further states that government is aware that some mining houses have a tendency to engage in transfer pricing schemes a practice which deprives the country of the much needed tax revenue.
The Head of State has since directed tax authorities and other government agencies to ensure this practice by some mining companies is brought to a complete stop.
And President Lungu says the agriculture sector holds the greatest potential for Zambia’s economic growth.
He points to the fact that the sector supports the livelihoods of over 70 percent of the Zambian people particularly in rural areas.
President Lungu says his government’s vision is to have a sustainable agriculture sector that contributes to food and nutritional security, creation of decent jobs and overall economic growth.
And Copperbelt Show Society chairperson Bill Osborne has attributed low agriculture production to limited mechanization by most small scale farmers most of whom are still using basic technologies in their production systems.
Mr Osborne says limited agro processing capacity means little added value which only encourages exports of raw material of most agriculture products.