MMD presidential Spokesperson Muhabi Lungu says it is not right for the Patriotic Front (PF) government to remain silent on the Kwacha’s continued depreciation against other global currencies.
Mr. Lungu says Finance Minister Alexander Chikwanda should come out in the open and explain to the nation how government intends to ensure the country’s currency is strengthened.
Mr. Lungu has told Qfm News that this is on the backdrop of the fact that the business community has lost confidence in the country’s economy due the policies the PF government is implementing.
He says this loss of confidence in the economy is evident in how despite revoking Statutory Instruments 33 and 55, the Kwacha has continued to lose value.
Meanwhile, Mr.Lungu has described as a sad development the decision by the government to allow the Technical Committee to hand over copies of the final draft constitution and other accompanying documents to the Permanent Secretary for Administration at the Ministry of Justice instead of the Head of State as earlier indicated.
He says this is an indication that the PF government has no commitment whatsoever towards delivering a people driven constitution.
Pf has no answers to the many issues. They have no answers on how to create wealth, jobs and later on how to run the economy. Chikwanda and his relatives are lost as they thought from the word go they can run a govt only by spending. What a shame.
Of late they have no answers what is happening to their cadres who are getting out of control day in and day out.
SATA , CHIKWANDA and the whole useless PF team must go!
UPND and HH I am in!
@ Wanzelu or is it without nzelu
PF is delivering on its promises and will prevail come 2016.
The tribal fundamentalists, regional and selfish bantu 3 party will never ever walk the corridors of power.
it will be an incurable disease on the nation to have UPND in power
The best you can do is dream on as dreams are free
@Gen, that is a good description of PF. Northerners and relatives of Sata are screwing Zambia. Who is Sata to Chikwanda? And who is the Treasury Secretary, the Minister of Commerce to Sata and so many others? Please stop projecting the tribalism and regionalism of your PF onto innocent people. Your PF is a regional and tribal project. In “90 days” is a code for “90% tribal and nepotistic appointments”!
@ Gen
Which promises PF is delivering?
Constitution in 90 days, more coins in our pockets and dollars in theirs, creating million jobs for members of extended families, amending POA, strengthening rule of law, been allergic to rampant corruption, ending nepotism, fighting tribalism, strengthening kwacha value, strict compliance with fundamental rights, enforcing freedoms of association…?
Can you please clarify
Even people who do not bath very well can just wake up with body odour and start talking about the kwacha. Zambia sucks!
Exchange rates must be determined by the market. This means that if one of the variables is changed, then automatically exchange rates will respond. It is clear that infrastructure development has been on the rapid side. It must be clear that export revenue is variable depending on world market and also on steady flow of major exports. It is also clear loans need to be serviced regularly. It is not for government to respond to speculation. It is up to economic researchers to do what they normally do. Conduct research and publish your findings. If you have no research capacity, then contract or consult the experts. As for the constitution, it is high time extreme pressure was reduced to normal levels.
You are right Dr.
Still short of medicines?
By the way, you are Doctor in which field? 1di0cy? Guinea pig in research of effect of down-syndrome?
Don’t forcce government to use unethical means to strengthen the kwacha,you are the same people who will STILL put blame on PF when when the same measures backfire.Just talking,talking…..
If “unethical means” to strengthen kwacha existed, be assured that by now Chikwanda & Co will be doing it.
On the other hand, if you interpret imposition of exchange controls as “unethical means”, the first beneficiaries will be the same, Chikwanda & Co.!
I don’t know why politicians always look for a quick fix instead of going to the crux of any matter. Recently, Turkey banned Twitter (thank goodness that has been overturned) and Youtube on account of what the CONTRIBUTORS were doing. Similarly, those IS 33 and 55 (you can even revoke more) were revoked as a knee-jerk reaction or as a speculative measure to see if they could buy political mileage. My worry is what the heck are those so-called technocrats doing allowing UNIP-style behavior in their midst, in the 21st-bladi-century!?? Facades will never work this time around.
@ 1.1 Wanzelu
Every progressive Zambian is aware that PF is a failed project, HH debates on fundamental economic issues of Zambia misunderstood by Chikwanda and alien to Sata. As for me and other Zambians in UK, we are in with HH.
PF Government……….. Show me the money!!!!!!!!!!
Where is the money?
Muhabi Lungu should be fired as the “MMD Presidential Spokeperson”; it doesn’t take a rocket scientist to figure out why the Kwacha is depreciating. If you look at the price of copper the last few months, you will notice a downward trend and future’s prices on copper aren’t too rosy either; bottomline, Zambia’s economy relies heavily on copper exports, so the result is less revenue for the mining companies (less tax revenue to the government). On top of that the country is import driven and requires foreign currency (supply & demand factors). The MMD should be the last to complain about the country’s current economic state since they controlled the government for approx 20 years and failed to diversify the economy to prevent such shocks. Shame on you Mr. Lungu.
YABA!!!! BUSHE KANSHI WHAT IS WRONG WITH OUR RACE??? WHAAT ??
12-14 million people in the whole of Zambia and there is such chaos. What more if there were 50 million people? Ma panga ne mingwala sheka sheka. This is just so unbelievable at this time and age in human civilization.