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Saturday, June 19, 2021

Revocation of SI 33 and 55 has raised questions-Mbita Chitala

Economy Revocation of SI 33 and 55 has raised questions-Mbita Chitala

Mbita Chitala
Dr Mbita Chitala

Political activist Mbita Chitala says the revocation of Statutory Instruments 33 of 2012 and 55 of 2013 has raised questions from which government ought to draw lessons.
Dr. Chitala says much as the decision by government to revoke the two regulations is a welcome courageous and progressive move, the questions that arise following this measure are still crucial in the management of the country’s economy.

Dr. Chitala says this is because government cannot simply be reversing policies abruptly and continues running the country as if nothing has happened.

He says the indication of such moves is that government has not been has not been consultative in managing the country’s economy.

He points out that in the first place the idea of introducing exchange controls was a miscalculation from the very beginning which has resulted in a weakened kwacha.

Dr. Chitala says going forward he hopes the Patriotic Front (PF) government will be more consultative in the implementation of public policies as opposed to bulldozing its way on key economic policies.

He has told Qfm news in a telephone interview that government should also take a leaf from the turn of events that have led to the revocation of the two Statutory Instruments and avoid a similar approach in the current constitutional making process as it might lead to yet another disaster.

16 COMMENTS

    • Remember miles boasted abt the SI and went to the extent of intimidating Alex. Now I wonder how what he has to say. I was in Zambia wen him Mikes Sampa could not debate Muhabi Lungu. This was in the same program he failed to justify the debasing of the kwacha- no wonder in Spanish it means ?!+;-:&.

    • ndemuntu. If it was secondary school debates, Muhabi lungu would be the champion, but fortunately this is real life. Eloquence is not directly proportional to intelligence or truthfulness.

  1. Disaster mis-management by a disaster PF government caused by a DISASTER non-functioning excuse for a President!

    Impeach him now, Zambia cannot afford such incompetence!

  2. The point is that there is no single ministry in Zambia where one can say things are going right….NONE. You can list all the ministries eg Agriculture-No in puts, fertlizer late distribution, justice-Kabimba, Nchito,Chibesakunda Inelligible appointments, Roads-corruption, no payments to contractors,Tourism-ZAWA, saga, tribunals etc etc etc, This gvt is totally inept .Total confusion. In another country with less docile citizenry Sata w2ouldve been impeached

  3. When the government listens to peoples concerns and reverse their decisions, it does not mean that the decision was wrong. I actually think the PF are very democratic and courageous because of being able to reverse their decisions when they realise that they need to. This is a practical example of humility.

  4. @ Spartan, the point is: the best time to listen is well before messing u; cleaning up can be alot more costly. PF, as shorthanded on skilled labor as they are, (and they admit as much by ‘borrowing’ staff from opposition ranks), have every reason to learn from experiences of their highly skilled predecessors.

    As according to you, it takes courage to change course. But it must be said that they need wisdom more than courage to run govt, for even a fool occassionally masters courage. Only wisdom enables one to learn from the past and avoid needless pitfalls.

  5. To my friend Chilyata who resorted to being personal and failed to see the opportunity for carry trade tactics Holding onto the offloaded USD by BOZ and trading the Kwacha waiting for further offload especially without proper understanding of the currency relations and base currencies as they affect the inflows and outflows on the CA and BA

    The margin losses on the BOZ could have been more marginified assuming that the dollars were and the unwinding to happen later to recoup the spent reserves especially when the inter bank trades might not be reflective to the rest in the sectors as intended

    To tthe above we need to avoid single asset classes and invest in all asset classes including the same…

  6. Then a fall in economic generally follows the fall in currency Its important therefore to have the right initiatives when the economy is in deficit on its trades and cashflows reducing those defeats and moving towards a surplus not huge surplus that also have effects also

    FDI have also there own if they reverse and no saving where made making the gains earlier to be erroded resulting in worseoff situation.

    Read and follow other stratergies like the mundende or is it the mundell fleming stratergies

    Lets share knowledge and not insults Mr Chikwandas pronouncements were encouraging and assuring on the above

  7. Therefore knowing fully and reading the signs that points to the currency shorterm or long term crisis is important of simple techical analysis and sentiments and these position indicators pointing is important

    The Mundell fleming, tho a shorterm tool with a balanced approach investing in assets not simply assets can refine the stability in the economy learning from similar case studies in German in the 90s avoiding being noise currency followers grasping to explain the fall

    Mr Chilyata pilato

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