Q FM Africa's Modern Radio
PSDA Chairperson Yusuf Dodia
Private Sector Development Association (PSDA) Chairperson Yusuf Dodia says Government should consider the re-introduction of Statutory Instrument number 55 which was revoked in March last year.
Government introduced SI 55, which empowered the Bank of Zambia to monitor inflows and outflows of international transactions.
Mr Dodia says there is need to ensure that export earnings are brought back into the country following the economic challenges the country is currently grappling with.
He notes that Zambia is exporting close to 80 billion dollars in form of copper, sugar, agriculture products and livestock products.
Mr. Dodia told QFM news that the country is relying on exporters to bring in the little foreign exchange to pay the workers and their taxes.
He states that government should therefore come up with a law that will ensure that all exports earnings are ploughed back into Zambian banking system in order to recapitalize the economy.
Mr Dodia says when the money is in the banks it will help Zambians access credit and use it for economic activities.
He notes that with the current challenges facing the country it is impossible for the country to diversify.
Mr.Dodia has also called on the government to come up with ways of enhancing the participation of Zambians in the economy.