Finance Minister Alexander Chikwanda has said that he believes Commerce Minister Margaret Mwanakatwe was misquoted when she was quoted as saying the payment of taxes by mining companies under the new mining tax regime can be deferred until companies have sufficient cash flow if they are not in a position to pay immediately.
Speaking in Lusaka today during the signing of a US$52.5 million financing agreement for the Zambia Health Services Improvement Project (ZHSIP) between
he World Bank and the Zambian Government, Mr Chikwanda said that Mrs Mwanakatwe is aware of the government position on the matter, saying that issues to do with tax will be left to the Zambia Revenue Authority.
The World Bank and the Zambian Government have today signed a US$52.5 million financing agreement for the Zambia Health Services Improvement Project (ZHSIP).
And on the new loan signed Mr Chikwanda noted that the loan is highly concessional with terms such as service charge at 0.75%, commitment charge at 0.5%, with a repayment period of 40 years and grace period of 10 years.
Mr. Chikwanda added that the grant agreement in the amount of US$15 million to finance the project has also been signed.
He said that with this project in place, progress towards maternal and child health Millennium Development Goals will be accelerated.
He anticipates an increase in the availability of health and nutrition commodities and hopes that the project will strengthen referral linkages.
Mr. Chikwanda said that he had no doubt that the project will have a tremendous contribution to the health service provision in the country, especially in the undeserved and poorer provinces.
Speaking at the same event, World Bank Country Director for Zambia, Malawi and Zimbabwe Kundhavi Kadiresan said that the bank’s support in the health sector has been growing over the years and that the bank has collaborated well with the Zambian government in implementing innovative high impact interventions.
Ms Kadiresan said that some of the bank’s successful projects in the health sector include the Zambian National Response to HIV/AIDS, the Malaria Booster PROJECT; the Results Based Financing Project, the Supply chain management initiative, and a series of analytical work.
Stop defending yourselves..you are truly a failed party who doesnt even have a roadmap..lack of planning is what is being exhibited by uncordinated flow of information between ministries….hish…2016 is near..
Shut your mouth and think first before commenting.
Aww Chikwanda just stop it. In effect, Margaret Mwanakatwe can make a better finance minister than you.
Clearly the two ministries are not talking to each other. They all need to be on the same page on what the way forward will be. Perhaps a cabinet meeting will help set them on the right path.
You are forgetting, there is no cabinet in place
You know, this one reminds me of the labour issues between Shamenda and Kambwili. These ministers should call each other before taking issues to the media. You end up looking so disorganised. If your ministries are directly affected by the activities of another Ministry, learn to get together and talk so you present a united front. Terrible.
Upnd chaps are still in election shock. They can’t differentiate developments from campaigns. Very soon this party will become irrelevant to the equation.
Ubupuba, what has this confusion got to do with UPND? Just go to the toilet.
So the confusion and policy inconsistency in the PF DNA. The left hand does not know what the right hand is doing. In this case, while the left and right hand are arguing, the head is says we shall reverse the decision.
ECL even your small Caninet cannot speak coherently. Well this is what tickles the voter and they voted for this PF.
What can we say? Infintu ni Lungu?
What’s the Interest rate?
I thought such drama dead with the most hated president Sata who divided the country on tribal lines?
Can you kindly sit together we are tired of gossiping we want development.These loans are like in the DNA of PF.What a country which can only survive on kaloba.Imwe?
Another Chikwandaism, as he once again receives yet another ‘agreeable terms…loan.’ Relax repayments kick in 10 years from now, meaning they probably won’t be in gov’t. Let some suckers pay up.
It’s perfectly stupid. He receives yet another loan, while spouting rubbish about getting Revenue from the mines! Can this man really be serious?!
The nonsense from Mwanakatwe is unacceptable. Plainly put, she gave misinformation, thus revealing the true mindset of the gov’t on mines….same as always. The truth is that politicians across parties are all with their hands in the sauce pot. Most have benefitted from the mines and are continuing putting benefits from the mines going to the citizens. They allow the mines to operate in this way so that they get personal benefits.
Sorry last bit did not read well……I am so mad right now, fuming actually.
I mean to say that with politicians being shareholders and suppliers to the mines in one firm or another most of them are getting more benefits from the mines than the citizens. It matters not who is in power, when it comes to copper the Zambian gov’t will allow these shenanigans.
Mwanakatwe, really put out mumbo jumbo. Hon. Chikwanda has put out more gobbledygook. What does he mean ‘left to ZRA.’ Will ZRA make the decision to defer the taxes? Because that then is the same thing whomever is in charge of that decision.
Our position as citizens is to ask Chikwanda to START PAYING LOANS PLEASE and that means REVENUE FROM THE MINES.and the time is NOW therefore there is no deferring of taxes…
Our position as citizens is to ask Chikwanda to START PAYING LOANS PLEASE and that means REVENUE FROM THE MINES.and the time is NOW therefore there is no deferring of taxes.
LET THEM GO if they can’t ‘DO’ ROYALTY/ CORPORATE taxes. OUT! OUT!
Please get rid of this Margarett before she spoils the party. Ta ka bombapo mu govt. Ba President act before you are embarrassed.
CHIKWANDA IS NOT FIT FOR MANAGING ZAMBIA FINANCIAL AFFAIRS.PLEASE GET RID OF HIM OR SIMPLY BECOMES LABOUR MINISTER
Yes Debora. Perfectly correct! Move him somewhere else!
#4 what has UPND got to do with this confusion? Am sure you wish it was them in power, then we would not have all this drama.
You liar. If UPND were in gov’t it would be thousands times more worse!
That HH would just sell everything to himself!
Simple the Minister of Finance has said ZRA will collect revenue on behalf of the government since the budget was approved by parliament.No one should suggest otherwise.
The Pf govt is technically broke. Did u hear what the World Bank said? There is no where we are going. U need a Kagame type of person to run Zambia. Not ba ngwele abs.
Mrs Mwanakatwe has never worked in govt before. She does not understand that in govt you do not manage cashflows as in tuntembas where you can “suspend” certain payments until your cashflows look good.
Secondly Dudu should not have even gone to that “indaba”, isn’t there a PS in the Ministry of Mines? She is too “raw” to speak for any sensible govt… look now afaula!
So was it not possible to give her a call to find out if she was misquoted or not before issuing this public statement against a colleague ? Phones are easy to access nowadays. We would like to hear our government speak with one voice.
ABC is being diplomatic with MM. Instead of saying that she went off course, he is giving her a good face that she was misqouted. Now the onus is on her to say that she was indeed misqouted.
Well spoken ABC, honorable Chikwanda is correct on this one. No negotiations on mining royalties.
Reminds of Sichinga when he too claimed MMD printed illegal three trillion kwacha and only ABC to say that is not possible otherwise the entire country is using fake notes. Mrs Mwanakatwe is simply excited and clearly does not yet know what is happening in govt. She should be the last person to utter about such important issues or at least she should have consulted before taking about the issue. As ABC says, the govt is clear about the issue!
#jamakudi What type of miracles is performing the person you have mentioned (Kagame) which we can admire ? Why the Rwandan refugees are not voluntarily going back to their country .
The 2015 budget revenue estimates was made on the basis the expected income from the taxes to be raised from mineral royalties. So if one minister says GRZ will defer the revenue, what implications does it have for the planned expenditure which should be met from the expected royalty tax? I personally think commerce minister erred and does not understand GRZ position. Deferment of the revenue is total disaster to GRZ 2015 programmes. Already constitution making process is not even fully allocated the required resources and yet president Lungu has directed justice minister to ensure delivery of a constitution. I feel sorry for Mr Fred Yamba. How will he execute this torn apart budget full of inconsistencies. At last all statements will be full of lies & more lies needed to cover other…
@sudan. We mwana wambwa wee! Musula obe waumfwa? You lost the election get over it ! Sata did what non of you *****s can only dream of in only 3 years so shut the f……up.
Failed state with a confused govt. The right hand doesnt know what the the left hand is doing!
Revenue collection belongs to Finance and the organ responsible is ZRA. Of course line ministries include Commerce as plus Mining plus Tourism plus Agriculture plus Communication, etc. It is right for members of the public to get official statements about revenue collection from Finance and ZRA. Given the opportunity, the media can create embarassing stories.