The Opposition New Hope Movement for Multi-party Democracy (MMD) has said that they are willing to advise the Patriotic Front (PF) on how to dismantle Zambia’s debt for free.
The PF led Government through the Ministry of Finance today issued out a notice of intension for the award of the tender for the consulting services to provide advisory services in relation to the liability management of its debt portfolio to Lazard Freres for a proposed sum of $5,000,000.00.
New Hope MMD Spokesperson Dr. Cephas Mukuka in a statement circulated to the media said that the MMD was ready to provide advisory services to the PF led Government for free as they had a track record of debt clearance.
Dr. Mukuka said that it does not make logical sense for someone who is in debt to pay for advice on how to clear the debt they have.
“We as the New Hope MMD are shocked with the intentions by our colleagues the PF to hire an advisor to the sum of $5,000,000.00 to advise them on how to clear the National Debt. It doesn’t make logical sense for one who is in serious debt to go and hire an advisor from whom they will pay through the nose. Furthermore, the sum of $5,000,000.00 is a very huge sum, which can be used for other developmental issues like investing in ZCCM-IH to mine Gold”, Dr. Mukuka said.
Dr. Mukuka further said that the MMD had the experience and Man power on how to clear debt and financial discipline.
“When we formed Govt in 1991, We found a National Debt of over $7 billion. Not only did we dismantle this debt, by the time we left Government in 2011, we left a heathy reserve in the treasury. As We handed power to the PF, We cautioned them to be financially steadfast with the treasury as we handed over a debt free country. Not only did our friends wipe clean the treasury, the went on an ambitious project of borrowing, which has today led us to having over $11 billion National debt in just 9 years”, Dr. Mukaka said.
Lastly, but not the least Dr. Mukuka then said that the MMD was willing to offer its services to the PF led Government for free.
“We as the New Hope MMD are on record of offering our services as a party to our colleagues the PF. We are currently helping them with the Covid-19 epidemic. We see no need of them spending over $5,000,000.00 tax payer money to get advise when we as the New Hope MMD are here to give them free advice on how to dismantle the national debt. Like We earlier said that We have been in the debt shoes before and we managed to dismantle the debt without hiring advisors. So as a Party, We will soon write to the Finance Minister over our free advisory offer”, Dr. Mukuka said.