Dodia calls for prudent utilization of natural resources

Yusuf Dodia

Economist Yusuf Dodia has observed that the problem Zambia faces in growing its Gross Domestic Product (GDP) is not as a result of tax evasion in the mining sector, but poor accountability of the country’s natural resources.

Mr. Dodia says mining companies are not a big culprit when it comes to tax evasion.

He however, notes that earnings from the country’s natural resources are invested in foreign countries, instead of being ploughed into the country’s economy.

Mr. Dodia says while mining companies in the country produce about US$4.2 billion worth of copper every year, this is not ploughed back in the economy.

He has since encouraged government to emulate countries in the region which ensure that money from the extractive industry is ploughed back into the economy.