Zambians for Empowerment and Development (ZED) says government should disclose how much is involved in terms of compensation in the reversal of the Zamtel sale.
ZED president Fred Mutesa told QFM in an exclusive interview that he believes the Zambian government will have to compensate LAP Green hence Zambians deserve to know how much is involved.
Dr. Mutesa has further appealed to the government to state its plans for Zamtel now that it has taken over the company.
He says it is important for government to state whether it will continue running Zamtel or will privatize the company.
He has however urged government to ensure that Zamtel continues to run productively and profitably should they decide to keep the parastatal.
Dr. Mutesa observes that for Zamtel to operate as a profitable commercial entity there will be need for the firm to be free from any form of political interference.
President Sata on Tuesday announced the official take over of Zamtel which had been bought by Libya’s LAP Green for $257 million, and appointed Dr. Mupanga Mwanakatwe as Chairman and Acting Chief executive officer for Zamtel.
[QFM]
if sata does not disclose the amount involved, then he should go back to kamwala remand prison. it seems he enjoys being in that place.
Good point. The nation needs to know the full cost of this reversal.
Forget it! This government can never disclose. It will be very embarrassig for them to tell you that taxes will be raised by July/August to meet the cost and other costs related to overexpenditures this year. The path of sovereign bond which should have financed K7 trillion of the budget looks like it will not yield deserved results. Only option: raise taxes
Forget it! This government can never disclose. It will be very embarrassig for them to tell you that taxes will be raised by July/August to meet the cost and other costs related to overexpenditures this year. The path of sovereign bond which should have financed K7 trillion of the budget looks like it will not yield deserved results
where are those bloggers who usually insult?
And all former Zamtel employees want their old jobs back,this is turning out to be ugly
It will come from the 2.7 billion dollars reserves left by the hard working MMD Government under the auspices of the 3Es who steered the economic development of where Zambia to the place it is today-single digit inflation, net foreign reserves, stable currency, B+ credit rating and according to the new Bank of Zambia Govener , quote
” “Zambia’s debt indicators remain well below the risk threshold levels…maximising concessional borrowing has contributed to lowering the average cost and risk of debt,””
Beat that by end of 2013. We are watching.
There is your answer
Next please
I have a feeling the State is going to pay heavily for the Zamtel takeover. This coupled with budget projects will strain our 2012 budget.
“budgeted projects” above
“Unbudgeted”
We shall not tell you “just keep on bucking”.
This is what you get when u put a grade 7 in state house. The English saying, ” Ignorance is expensive”
Zamtel as a company will be extinct in a years time because the game in telecommunication is continuous technology upgrade. Zamtel will not compete in the market without continuous capital injection.
Zambia’s are going to pay dearly for this one….. if one think is going to kick PF out of power, watch the Zamtel space…
I will be watching on the side :)
Is GRZ going to determine the amount of compensation they give to LapGreen? I believe it is the other way round (through courts) and indeed it will be costly.
Iwe ka #12, dont hide in your stupid engineer engineer. I challenged you to state which university you graduated from either in zambia or where you are busy blogging nonsense. bushe chalikukalipa a grade 7 is in state house? why didnt you vote or use your engineering skills to offset this grade 7 chap who appears to be a thorn in your ass.
People don’t panic about Zamtel. It is a good thing it has been reposesed. Take it from me the PF government will privatise it again. All they are trying to do is send a strong message both to us Zambians and to foreign investors that you cant continue treating Zambia as a den of crooked deals. Watch how the PF will dwarf the so called MMD economic achievements…! Poverty will go down, health care will improve and the road network will be far much better than it is today. This is the development we want not the statistical ones of inflation, economic growth blabla things that my cousins in Kalamukoso and my friend in shimukunami never experience and feel.
No 14
I love my Zambia and where the Grade 7 is taking it. If its ok with you, its you right to like him. Thats the good think about democracy, some u like others u don’t. This Grade 7 i do not like. PERIOD!
I love my Zambia and do not like where the Grade 7 is taking it…
@17 so why dont you become president then since you are highly educated and stop crying over this grade 7 who is now in state house,lol get a life
disclosure will be made by the next Gov which will also be busy yapping and doing nothing fore the people.such is our politics
#7 i know your MMD by you make very impressive points. and i think that will be a good benchmark, its all about numbers no politics their. but of course who cares? i guess the 900 000 people that voted for this guy don’t give a shi.t and that is ok.
Mr Sata the honey moon is over you will have to account for your actions and also be transparent in your dealings today. I do not for once imagine that all of a sadden MCS has become an Angel. He should know that Zambia is greater than “Donchi Kubeba”. The Deacons (Leaders) of this country (Zambia) will receive a stiffer scrutiny from the electorate. I like the game, Banda’s immunity should be lifted so he can exculpate himself and so will Sata’s immunity. This will guarantee some kind of respect for the use of the nations’ resources for the benefit of all.
is it only ZAMTEL that can not operate as a parastatal? If we are so serious about privatisation we should start thinking of privatising ZESCO
#21, after what is happening to Zamtel, all those who dare privatise ZESCO or even buy any parastatal are candidates for an inquiry and task force in 2016.
When we said this ill considered move will cost money, the PF bootlickers were busy insulting us. Just wait and see. This is not the only mistake. By the end of the year, most of you will see just how pathetic this government is. I agree with my friend the Engineer. Grade 7 is no good for leadership.
Zambia will dearly for putting a Grade 7 in state house for two simple reasons:
1. Sata is too simplistic in his approach to governance and he is always talking about economic justice. In the real world economy there is no economic justice because the whole thing is driven by money and ideas.
2.If Lapgreen seeks compensation along the lines of compounded interest over say 10 years, Zambia will have to pay over US$1 Billion.
Dr Mutesa, I believe you also want to become President of Zambia, surely would you say that it was the fault of the PF government that Lap GreeN did not understand that they did not qualify to buy Zamtel in the first place that they should be compensated?
Let the law take its course. By the way, what disciplene is your doctrate based on?
why are you folks already jumping to the issue of compensation. LapgreenN first of all has to exculpate itself, beyond any reasonable doubt, that it illegitimately acquired 75% stake in Zamtel.
If you have taken time to read the report from the Commission of inquiry, to which lapgreen is yet to respond, they did not even meet the preliminary requisitions for the bidders.But of cource, it will be nice to hear Lapgreen side of story.