Q FM Africa's Modern Radio
Alliance for Democracy and Development President Charles Milupi has observed that parastatals in Zambia have been underperforming because those in Authority have been using them for their own benefit.
Mr. Milupi has alleged that those in Authority having been doing this by appointing political cadres to head such institutions whose major shareholders are the people of Zambia.
He has told Qfm News in an interview that he suspects such political appointments is what is also making it easier for those in Authority to do private businesses with the parastatals.
Mr. Milupi says this is also what explains why parastatals in the country having been declaring limited dividends as compared to privately owned companies in similar businesses.
He has wondered how Zamtel for example which is in both mobile and landline telecommunication business is not able to match the profits privately owned entities like Airtel and MTN are making.
Mr. Milupi believes that corporate governance at Zamtel, Zampost and ZESCO among other parastatals has broken down due political interference.
He notes that what is however unfortunate is that the country is being robbed of the much needed revenue from these parastatal.