Democratic Party President Harry Kalaba has written to President Edgar Lungu on the ongoing debate regarding the alliance between ZCCM-IH and Karma Limited that culminated into the formation of a Special Purpose Vehicle in Consolidated Gold Company.
In his letter dated 26th May 2020, Mr Kakala has reminded the Head of State that Zambia is going through various challenges that should have been avoided or better prepared for as a country.
Mr Kalaba has pointed out that Zambia’s currency has depreciated by more than 300% since January 2015 while unemployment in the general population is a staggering 42% with youth unemployment at 50%.
He said the country’s sovereignty is threatened by the unrestrained contraction of debt without due regard to the lines of the contracts nor properly done business and repayment plans.
Mr Kalaba said not only is most of the debt unnecessary and ending up in pockets of those walking the corridors of power, but the contraction of loans is also free for all for President Lungu’s administration making it difficult for Ministry of Finance to know the actual agreements of the loans and the total amounts as anyone can contract loans and commit the people of Zambia to a lifetime of bondage to liquidating the loans which hardly benefited them.
He said while God has heard the cries of the Zambian people with the discovery of gold deposits, the government has gone ahead to start mining the gold despite not having a well-structured strategic and implementation plan as a government that protects the interest of Zambians and safeguards this important national asset.
“While all Zambians are expecting the gold industry to be a game-changer your office goes ahead and partners with a firm which is foreign on face value for a paltry $3.5 million, ransoming the future of the youth and the Zambian people”, he added.
Mr. Kalaba has urged the President to have a heart for the people of Zambia not only in words but in action too.
He said the people of Zambia including himself voted for him as they trusted that he was in a better position to administer their resources responsibly on their behalf.
“We voted for you believing you were going to reduce inequalities unlike what we have seen where those in leadership and their friends have amassed wealth which does not correlate with their incomes, while the rest of the people have been made poorer than they were in January 2012”, added Mr. Kalaba.
He advised the PF administration to deliver the resources back to the people of Zambia saying they owe it to the Zambian voters and the people who gave him the decorum and authority over them to cancel and reverse the rampant theft of the resources by revoking the gold processing contract.
Mr. Kalaba said the Democratic Party is watching the development with interest and are ready for any possible action adding that Zambians deserve a chance to own their economy.
“The hardworking Zambians deserve a chance to take ownership of the private sector economy. In the same manner that you have been destroying Zambian companies, we expect you to build the Zambian companies as well. We expect that government will facilitate US $3.5 million dollars for Zambian equity partners”, he said.
“Your office has already set precedence as you went to China to borrow money for Top Star a Chinese company to be operational in Zambia on our debt. If Government cannot source those funds then at least allow the Zambian people to raise the funds and become the partners”, he added.
He expressed hope President Lungu can create a last-minute legacy by doing the right thing this time around.