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Alba Iulia
Saturday, October 31, 2020

Excise duty reduction cheers Parley Committee

Economy Excise duty reduction cheers Parley Committee

The Committee on the estimates to the Customs and Excise Amendment bill, has welcomed the reduction of excise duty on electricity from 5 percent to 3 percent.

Committee Chairperson Batuke Simenda told Parliament today that the reduction was
welcome as it would free resources for re-investment by business operators.

Mr. Simenda said that his committee however re-iterated that there was need for the
rural electrification fund to receive the full extent of the funds collected as rural electrification levy.

In addition Mr. Simedna said it was necessary in view of the high electrification
requirements in the country for companies that have been exempted from paying tax
start paying particularly those in mining.

And Mr. Simenda said his committee welcomed the reduction of duty on pre-mixes from
25 percent to 5 percent saying this would go a long way in sustaining growth in the livestock industry.

Mr. Simenda said his committee stressed that the Private sector would only become
more efficient and effective, if concerted effort was invested in reducing the cost
of doing business.

He further pointed out that the Private sector was currently not competitive in domestic, regional and international markets because Zambia was still a high cost
environment for business.

And Parliamentarians emphasised the importance of Science and Technology saying
Zambia could only develop with fully baked scientists and technologists.
Opposition Patriotic Front Pambashe Member of Parliament Benard Chisha said there
was need for Government to ensure pupils start learning science at basic schools.
And Mulobezi ruling MMD Member of Parliament Michael Mabenga said Science and
Technology is cardinal in the country’s development.

Mr. Mabenga implored teachers in schools to encourage and prepare children to take
up sciences in schools saying a good and early start was vital for a perfect finish.

ZANIS

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