THE opposition United Liberal Party (ULP) has advised government to handle the 75 per cent sale of Zamtel shares with cautious.
Party President, Sakwiba Sikota, says there is need for government to ensure that the matter is handled in a transparent and accountable way, adding that it attracts the interest of many people.
Mr Sikota, who was speaking in an interview with ZANIS in Lusaka today, said before a strategic partner is found government needs to clearly explain to the pubic the benefits that the nation will have from the sale.
He said people in the country must understand the valuation process being carried and what kind of liabilities the company has.
He noted that government has also to be responsible enough to ensure that the welfare and interests of workers are well looked after.
Mr Sikota explained that government should put in place stringent measures aimed at making sure that there will be no unnecessary job cuts by the investor who will take over the operations of the company.
He stated that with the current global economic meltdown affecting many countries, people’s only sources of income, such as jobs, should be properly secured by he government.
He also challenged government to timely provide adequate information on the offer to both the public and trade unions for their evaluation and interventions.
Mr Sikota further charged that the prospects should also be made public, saying it is the only way Zambians will be given an opportunity to take part in such huge investment by bidding.
And in a separate interview the Committee of Citizens said it supports the decision by government to sale 75 percent of Zamtel shares, saying anything less will be unattractive to investors.
Committee Executive Director, Gregory Chifire, noted that the decision should be supported by all peace-loving Zambians as it aimed at bringing more investment in the country.
Mr Chifire disclosed that Zamtel has for a long time lagged behind, especially in infrastructural development, hence making it difficult for the company to compete favourably with other companies locally and internationally.
He advised government not to be arrogant but rather accommodate different views from various stakeholders on the matter before making a final decision.
Mr Chifire has also called on opposition political parties not to politicise the issue, adding that it is a national subject aimed at benefiting all Zambians.
President Rupiah Banda last week announced that government has resolved to sell 75 per cent shares of the Zambia Telecommunications Corporation (Zamtel) to a private equity partner and retain 25 per cent shares to enable the company operate profitably.
Speaking in Ndola when he addressed Zamtel management and employees, President Banda said the partial privatization of the company was the only way to resolve the financial problems the company was facing and enhance the viability of the company.
ZANIS
BaCifire, learn to shut your trap, please.
75% means Zambian people have no say in Zamtel anymore, This is the same thing people with foresight warned about. The govt gave away 75% ownership which simply means the investors can fire as many as they want and frankly do anything they want. Someone needs to teach the pseudo economists on this blog and govt about corporate governance principles . The govt is playing checkers on a chess board with a chess master ., the investor wanted 75% for a very good reason. Am glad sakwiba sikota and simataa simataa from today’s post article can see through this facade
Iyo ba LT mulapatula “handle the 75 per cent sale of Zamtel shares with cautious”. Mwaliwile E110
ba Saki welcome back, where did you go? Chifire, walipwisha isukulu iwe?? always talking nonsense.
No one is above the law RB. You want to steal the little pride Zambians have remained with. First RP Capital vs Dora Siliya contract which was awarded without going through the right channels (questionable). Now privitasation of the same company with a lot questions than answers. ‘Who is Cheating Who’. GRZ should encourage investment in the telecommunication industry (New companies) to compete with Zamtel. Why should GRZ make the same mistake made with NIEC limited where Parastatal stores were given away cheaply to the so called investors who were just interested in getting profits ( 5 years tax free – for what??). Lastly, I would urge RB to seek advice from KK re sell of Zamtel and i am sure the big man will pump A LOT OF SENSE into him. Has the Zambian GRZ got no “SECURITY”…
One point that even a kaponya knows is, an ivestor is not coming to invest in order to create JOBs, he will come for PROFITS. If increasing this profit margin means cutting jobs, he will go ahead, its his money, he can do as he pleases. So stop crying about jobs, once the 75% is sold to an infestor, thus the end of job guarantees!
You mean this United Libolo party is still in existence?
Sakwiba Sikota has finally awaken from slumber.
I thought his single-man party had been dissolved after he joined RB.
RP Capital Partners was contracted to evaluate the assets of ZAMTEL at a cost of $2 million and this work must have been completed and a report submitted.
We the Zambians now demand that the valuation report be made public before the entity (Zamtel) is given to an equity partner.
Surely, this should not be a problem Mr President or is it that complicated for you?.
Saki stop talking man ! you are a hypocrite . we dont trust you anymore . just for fight for what you worked for during MMD compaigns. Dont even waste your time on matters of this nature because we know you by now. you cant help us with these thieving MMDs.
Ba Cifire and ba saki do you know what it means 75% shares in the private and 25% for Zambians? Will have the power to make decisions that are best for business meaning more job loses, closure of certain lose-making centres,etc, etc. So Saki and Cifire you are talking rubbish and we are talking the truth because of experience from past transactions. Have you read about Railway System of Zambia?