Minister of Finance Felix Mutati has said government will put forward a stable tax system that will enable mining companies to operate effectively.
Mr. Mutati said the mining sector will continue to take part in growing the Zambian economy.
He said government will implement a stable tax regime in the 2017 national budget that will stabilise the mining industry and create employment.
Mr. Mutati said further government will embark on explorations to continue expanding the mining sector.
He was speaking this morning at a 2017 budget analysis breakfast organised by KPMG in Kitwe.
He said government believes in forming respectable partnerships that will create common benefits for both parties and contribute to the growth of the economy.
The Finance Minister said despite the copper prices going up in the past, tax regimes remained static.
Mr. Mutati has since urged the mining firms to help government by investing more in the sector.
“Government will embark on explorations and will continue expanding opportunities for minerals because government is mindful that mining still remains key in the economy in contributing to the foreign exchange and job creation,’’ he said.
Mr. Mutati has meanwhile appealed to the investors to support local contractors and allow them to contribute to national development.
He noted that there was need for mining industries to build business trust and assist government to set a platform for 2017.
“We urge investors in the mining sector to give local contractors opportunities because they also have families to feed and children to take to school.
Government does not need to put legislation in business. Business must be built on mutual trust and confidence,’’ he said.