ormer Finance Minister Situmbeko Musokotwane has asked government to withdraw the Statutory Instrument on the revised minimum wage and engage in negotiations.
Mr. Musokotwane said the revised minimum wage has the potential to negatively affect foreign investment in the country.
He said one of the factors for foreign investors is a low cost of labour adding that with the imposition of the high wages on employers, potential investors will hold their investment in Zambia on account of an expensive labour market.
The former cabinet minister said if the status quo continues, Zambia’s economic growth will stall as investors will shun the country.
Mr.Musokotwane said the Patriotic Front government has failed to put money in people’s pockets but that they have resorted to imposing wages on employers as a way of empowering people.
Mr. Musokotwane pointed out that the ongoing anger in the labour market which has resulted in protests by employers has been created by the PF government and needs an urgent solution.