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Alba Iulia
Wednesday, July 15, 2020

Government pays out $120 million in VAT refunds to Mines

Economy Government pays out $120 million in VAT refunds to Mines

Davies Banda Gemstone Tress manufacturing shows finished product to Commerce Minister Margaret Mwanakatwe during the valuation additional programme for miners
Davies Banda Gemstone Tress manufacturing shows finished product
to Commerce Minister Margaret Mwanakatwe during the valuation
additional programme for miners

Government has $120 million in form of Value Added Tax -VAT- refunds to various mining firms in the country as at September 30th 2015.

Commerce Minister Margaret Mwanakatwe said that Government was trying hard under very difficult circumstances to sustain mining operations in the country.

Ms Mwanakatwe has further dispelled assertions from the Zambia Chamber of Mines that inconsistent Government policies are to blame for the challenges in the mining sector.

Ms Mwanakatwe said this in kitwe today during a KPMG breakfast meeting with members of the business community called to discuss the 2016 national budget.

Ms Mwanakatwe said as much as government is encouraging diversification, government cannot ignore the contribution of the sector to the country’s Gross Domestic Product GDP that now stands at 70% per annum.

And Zambia Chamber of Mines said that the process of open dialogue between government and the mining sector was vital.

Chamber president Nathan Chishimba further urged government to come up with realistic policies in curbing challenges in the mining sector.

5 COMMENTS

  1. QUOTE
    ‘government cannot ignore the contribution of the sector to the country’s Gross Domestic Product GDP that now stands at 70% per annum?’

    GROAN. Did we not get told it was only 3% contribution not too long ago? Well maybe it means 3% of a very large number that works at 70%.

    You really never know with this gov’t the whole story of the Mines. If the so called Revolution Youth want something to do, maybe they can challenge the gov’t on this one, with peaceful sitins, because definitely their future rights are at stake.

  2. Mining contribution to GDP has never been above agriculture (averaging 13%). Mining has for years lingered around 3.5 to 4.5 percent. Perhaps she was referring to forex earnings!

  3. GDP at 70%!!! My foot. No wonder even Davies Banda in the above picture is showing her the mechandise while looking away at some other potential customer.

  4. Its very sad that this woman can make such utterances, the selfsame lies the tell villagers about not voting for the ruling party equates to no development….sectors that have been driving growth in Zambia in the past few years have never been the mining sector BUT largely Services sector and then Agriculture. She should know better …what type of leadership is this?

  5. Talking about statistics why do we always depend on foreign platforms such as World Bank, IMF, Fitch etc and not on our own CSO for such information about GDP? Does it mean CSO workers are gabbage- no room to innovate (just like ZNBC)?

Comments are closed.

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