Mining sector must not be tempered with – Hamududu

Chairperson on the Expanded Parliamentary Committee on Estimates Highvie Hamududu

The slow inflow of Foreign Direct Investment in Zambia’s Mining sector has been attributed to inconsistency in government policy in the last 7 years.

Chairperson on the Expanded Parliamentary Committee on Estimates Highvie Hamududu has observed that mine policy inconsistency is what has also had a boomerang effect on the Zambian economy.

Mr. Hamududu has cited reduced revenue earnings from the mines and compromised foreign exchange rates as some of the macroeconomic effects that have arise in the last 7 years.

He has told Qfm News in an interview that for the fact that the economy is not fully diversified, the country’s Mining sector must not be tempered with in a way that boomerangs.

Mr. Hamududu who is also Bweengwa Member of Parliament has however, advised that Zambia in this case requires a robust mining sector.

He says the country needs to settle on an agreed mine taxation regime to sustain a stable mining environment and thereby attract Foreign Direct Investments.

Mr. Hamududu has further suggested the need for the country to address the inefficiencies in tax collection from the mines.