Reduce on your borrowing, Mulusa tells Government

Former Solwezi Central Member of Parliament Lack Mulusa has called on government to reduce on the reckless borrowing as it is ruining the lives of feature generations who will have the burden of repaying the loans.

Speaking in an interview Mr. Mulusa said government has been borrowing huge sums of money with no capital projects to show for it.

Mr. Mulusa said the high levels of borrowing the PF government is engaging has negative repercussions on the feature of the country hence the need for the PF government to consider reducing.

He advised the PF government to invest in capital project which will help repay the loans unlike the current trend where government is borrowing while no projects are being commissioned to indicate where the borrowed funds are being channeled to.

And Mr. Mulusa has commended the Bank of Zambia for relatively stabilizing the Kwacha.

Mr. Mulusa said a stable Kwacha is good for the country’s economy especially small scale businesses who where adversely affected in the last few months.

He noted that with a stable currency investors are not scared to invest in the country as there is predictability in the country’s economy.

Meanwhile Nation Restoration Party Youths in the Copperbelt have also called on government to stop its reckless borrowing.

The NAREP youths have called on all well meaning Zambians to denounce the continued borrowing at what they say is not sustainable as there are no results from what the PF has borrowed so far.

Bernard Mwila who is Copperbelt Provincial Youth IPS said the PF are burdening the public as while as feature generation who will have to pay high taxes.

Mr. Mwila called on stakeholders to come together and demonstrate against the continued borrowing.

He also called on the public and stakeholders to strongly condemn government the recent proposal by government to borrow over 1billion Euros a commercial rate of 7percent.
” As NAREP youths, we strongly oppose this proposal and call upon every well meaning Zambian to denounce the proposal. We therefore, call on civil society organisations, political parties, student unions and the church together with parliamentarians to peacefully demonstrate against the careless borrowings and expenditure by “cipante-pante” government.

Since its us who will be paying back these interest at the expense of our economic freedom by paying huge amounts of taxes. Again we live to witness how slowly and technically Zambia is surrendering her hard fought for sovereignty and selling our birthright due to poor planning by the “cipante-pante” government ever since we started borrowing under the PF”

The NAREP youths said this in a press statement released to the media.