Thursday, March 28, 2024

Indaba report Summary

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The following is a summary of the Indaba report that has since been presented to the president. The eport has recommended that government should expedite the introduction of discount window to enhance liquidity in the market in order to ensure short-term liquidity is available to the banks and economy at large.

The report further recommend that the ministry of finance, in close collaboration with the Bank of Zambia (BOZ), should facilitate provision of the necessary financial support to efforts aimed the development of the economy.

It also urged government to enhance support to small and medium scale industries and women entrepreneurs through facilitation of access to finance, provision of tax incentives and removal of discriminatory legislation.

The report further urges government to pay off arrears to suppliers of goods and services within three months.

It said government should re-examine the corporate tax rates in order to level the playing field in the financial markets and enact appropriate legislation to provide for the functioning of the Credit Reference Bureau.

On Agriculture, it has recommended for establishment of a Livestock Bank and re-opening of the co-operative bank, to streamline and enhance access top land and processing of title deeds.

It further recommended that government should embark on livestock restocking, compulsory dipping and effect more investment in livestock vaccine research and the promotion of the Public Private Partnership (PPP) in farm block development.

On Tourism, the report has recommended for the review of the Tourism and Hospitality Act and Zero rating Value Added Tax (VAT) on tour packages for domestic tourists.

It also recommended for the implementation of the Open Sky Policy and the review of the landing and parking fees and the simplification of licensing procedures by introducing a one stop tourism licensing centre.[quote]

On mining, the report said government should consider the restoration and review of the Mining Development Agreement .

It said urged government to consider a power tariff freeze and a custom duty waiver on raw materials and formulation of policies that support local entrepreneur entry into the mining industry.

‘Government should set up a task force to review the entire mining industry in the light of the global economic meltdown,’ it added.

And the report has urged government to develop an Energy Strategic Master Plan (ESMP) for the electricity sector that allows for better linkages with other sectors.

It said government should provide guarantees so as to facilitate access to finance thereby encouraging easier entry of the private sector and the introduction of cost reflective electricity tariff levels.

Meanwhile, the report has recommended that the National Road Fund Agency (NRFA) and the Road Development Agency (RDA) be merged.

It said government should establish a ministry that would coordinate all infrastructure development programmes to be named Ministry of Works and Infrastructure and establish an effective and comprehensive infrastructure performance monitoring and evaluation system.

Other recommendations on infrastructure are that government should develop an integrated National Infrastructure Development Master Plan and set up infrastructure Development Fund.

ZANIS

29 COMMENTS

  1. Well drafted but am wondering.Th Indaba was called to tackle the current global crisis,to me the recomendations are rather long term.By the time the measures are implemented,wil we survive the global crunch??

  2. “It also urged government to enhance support to small and medium scale industries and women entrepreneurs through facilitation of access to finance, provision of tax incentives and removal of discriminatory legislation.”

    Iam really encouraged by this recommendation.Our women need to be indepenent.As long as our women are depenedent on men,development will elude us and will continue having population explosion,for having babies is the only way of trapping a man in marriage.

  3. Disappointed!!!!! There is nothing innovative about this report. All those 500+ thinking heads, and this is all they could come up with? Recycled Ideas!!!

  4. Too much bone,no beef.What are the target figures eg what is the suggested Corporate tax rate,which laws in particular are discrminatory?
    I’m sure there is a detailed report somewhere otherwise,waste of time and money.

  5. The comparative edge of President Banda to his opposing political losers is his knowledge based work and intensive reading habits. For the years I have known RB, the man reads a lot of professional books than any Zambian leader I know of.

    Even the time UNIP lost power in 1991 to MMD; a visit to his Kabulonga home would greet you with a bookworm environment. His is not dry education many critics have of a college degree without a professional touch, experience or opportunity.

    RB as a seasoned professional Political-Economist is the ideal leader to launch our country into another dynamic phase of national state building envisioned. Insults, malice, tribalism and hate hyperventilation are no panacea to successful national state building but pragmatism in RB.

    Out of President…

  6. Nothing is in and will come out of factionalism and tribal bigotry Zambian opposition politics espouse today. It’s no longer a secret that many patriotic and forward looking Zambians are live with the fact that there is a strong and better Zambia at hand to lead after navigating through these macroeconomic-level challenges.

    Zambia deserves such a pragmatic father figure as a head of state to foster inclusion, unity and real development driven on SME other than just FDI corporatism of Magande that wasted the boom years without creating a resilient capacity driven economy.

    Certainly our road to success as a country will not be like South Korea that heavily benefited from the American military industrial complex and war supply chain, generous trade treaties and open market. But from…

  7. But from nothing but human capital, land and other commodities as our resources at hand following the IMF induced economic shock therapy, Zambia under RB with a policies treasuring education amongst many has the Golden opportunity to come out of the Malthusian low-level equilibrium trap.

    Successful economies are those driven by local SME supported by deliberate policies of making FDI corporatism respect the SME through business interdependence. President Banda as a Development Economist know this fact and is on course.

    It’s not time to be driven by emotions and bigotry but collective reasoning. People will not eat politics and insults but what policies will create. The good news is that MMD even in 2011 will defeat all these noise makers merely exercising their constitutional…

  8. One wonders why the report took so long to come out. They were enjoying ‘allowances’ at taxpayers expense…

  9. The good news is that MMD even in 2011 will defeat all these noise makers merely exercising their constitutional rights on the ballot as candidates every election year. The other hope any patriot shares is the fact that the country has more rationalists than dead-end armchair critics dry on every twist and turn of national responsibility.

  10. Senior Citizen,whilst i respect your personal views,i believe that we are all entitled to ours without fear of prejudice.RB or anyone else for that matter does not hold the monopoly or exclusive rights of removing Zambia from the economic doldrums.We can not also wholesomely writeoff all the preceding presidos and the Finance ministers simply because we have better theories ,or so we think.Time and results will judge RB and his Team.He already has made major changes to his team and so its time to deliver and we the people will renew his mandate upon his results.

  11. # 14 Makweti M, Blog with a delivered mind from abstractions.Nowhere not even myself have anyone taken away the the right to blog of armchair critics with a natural inclination to insults and pessimism.In the same vein, no one has said the past was all trash but the present.Pragmatism calls for reason and reality other than utopia world view behind armchair critics.Where i rationally see progressive policies, i have reasons to support them.

  12. Mr. Senior Citizen
    You seem to be so emotionally involved with RB . Are you really sure he deserves the messianic laudatio that you attribute to him? The greatness of a leader is evaluated by his achievements, but all you have listed are merely his interests.
    Being a successful economist is not just reading books. If knowledge cannot be transformed into wisdom, it just satturates the mind and eventually plays out. In order to attain wisdom of leadership, there must be a balance of vision, integrity, enthusiasm, timing and not to underestimate the respectful service of the people who elected one as a leader.
    I wonder, does RB have that credo?

  13. This is an amazing report. I like the recommendations as this is what we really needed. We needed diversification and the availability of liquidity in other sectors (e.g agriculture) is a step in the right direction as banks are not lending in this sector.

    The removal of bureaucracies in the tourism sector is sure to enhance Zambia’s tourism potential an is a very good move.

    The other recommendations are very good. The indaba did bring about good results.

    If these recommendations had to be enacted, we might just weather the storm.

    Well done guys and Well done Mr. President.

  14. Senior Citizen or Chapi or Pragmatist, you are off the mark my dear. come down to earth and face reality.

  15. CHE GUAVARA ,

    Senior Citizen is Senior Citizen no other names you are burning on.Chapi, like Joze, Kuku, Chewe and such is not only an ardent PF zealot but Sata’s out-of-wedlock spoiled kid you would be insulting to look down at his father.On the other hand, i know Pragmatist but he is no closer to these threads debating politics since he long bid farewell to the blogosphere for other commitments.The Zambia business forum may be.It is now unethical for him to debate politics.This Senior Citizen is at liberty with no restrains.

  16. Nine Chale, If you attatch messianic laudation to any human being then you are lost and will wait till heavens come.Only Jesus lived and carried the messianic leadership.I presume you are using terms you have very little depth of.That is blasphemous thinking in you.

  17. Senior Citizen
    The most dangerous thing more than an Economist is an amateur Economist. In search for a magic formula to turn poverty into prosperity ,neither Aid nor Investment nor Education nor population Control nor adjustment lending nor debt forgiveness has proved to be a panacea for development.This will not be the first attempt to invest in SMEs,Energy and Agriculture.Previous attempts have been visible flops,how different will be the prescriptions to be a success.The country’s Investment Premium Risk is one of the highest on the globe and yet politicians are still claiming to attract more foreign investment.This must not be looked at from a tight angle of an individual leaders but more broad perspective of leadership,we care less about the tribe or race all we need is a right…

  18. This is a well done report.I just hope that government will see to it that most of the recommendations are implemented.We might just dive the economical storm.Something positive in a while!!

  19. Nine Chale,excellent analysis of the so called Senior Citizen and the RB scenario.Chaps can not even take constructive criticism without venting anger.I see a very vested personal inteterst in the rein of RB by Senior Citizen.Just call yourself ‘Partisan Citizen’.Note-No offensive words used.

  20. # 22 Luapula Fish, -I doubt if you understand what you are talking about or have any clue of unlocking economies in a trough deep as zambia. Capacity building is a prerequiste in economic development. Addressing the country’s Investment Premium Risk is not done in isolation but as a varaible to the process.Be clear and of depth if you want us spam the threads with economic arguments.What you are selling is utopian economics to distant from the real world where pragmatism matters.

  21. # 25 .
    Makweti MN ,

    The person interest is never to allow our country blander by sliding in the hands of seccessionists and tribal bigots like Sata.We want to take over a country that is united and has strong economic fundamentals in place we could take off on. I hope you have not forefeited your right and responsibility to serve the country in preferance for life time blogging.

  22. Senior Citizen
    Your desperate comments are so naked that you can see through the loose strings of bias.I have no problem in understanding your doubts as you lack both theoretical and practical knowledge on Economic Development dynamics. I am very afraid that you might mislead the masses with your narrow stream of thinking,you have provided no specific explanation on how your worshiped president is going to stimulate the economy through Capacity Building .To remind you over your ignorance, Capacity Building as always been present in all national development plans.To make it simple ,Whats excites you most to preach the things you don’t understand ?

  23. A report without figures, targets, timelines and milestones is a shear waste of time. The profesor excessively educated to know these basic things. Its uactually easy to be a nuckle head.

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