Northwestern Chamber of Commerce, Trade and industry (NWCCI) has appealed to the Bank of Zambia to change the 10 billion stimulus package to a grant.
Stressing the importance of the grant and not a loan, NWCCI President Mukumbi Kafuta said it is difficult for businesses to benefit from the package because they might face challenges in repaying the loan.
Mr Kafuta said business owners are facing challenges to project how the business will thrive through this period making borrowing risky.
“ Most business owners already have loans and are having challenges to pay back making them more vulnerable though this Coronavirus period, “ he said.
The , NWCCI President told Zanis in an interview that the stimulus package is a good idea but it needs to be redone to ensure business benefit fully.
Mr Kafuta suggested that the Bank of Zambia must also ease the conditions to access the money by financial service providers as they are too rigorous.
He said these concerns are not only by business owners in the province but the Nation at large.
Mr Kafuta said they have since made submissions to the Ministry of Finance to ensure all businesses are sustained through this hard time because businesses are the engine of financial and development in the country.
Following the devastating impact of COVID-19 on the nation’s economy, government announced that it had released K 10 billion package for Small and Medium Enterprises ( SMEs) to access for their respective businesses.
President Lungu, said recently during his National address on COVID that the Ministry of Finance to simplify the modalities on how companies can access the ten billion Kwacha stimulus package which has been provided by the government.
President Lungu said the modalities should be communicated to businesses that have been affected by the pandemic.
That money will just go back to the Treasury because no one will access it. It’s another failed project.Learn to consult
I think the North-Western Chamber of Commerce is probably under leadership of someone who shouldn’t be in that position.
No bank in the world gives free Money. There is no Money tree. Let us be realistic
Why do people like free things?
Give Copperbelt University and University of Zambia that money. They need it to pay May salaries, Retirement Benefits and Gratuities and operations stimulus.
Once you change it to a grant the only beneficiaries will be hungry PF cadres.
This is the problem with us. We just want Manna to fall from heaven. We don’t want to commit to repayments. We just want the freedom to spend without the obligation to pay
@sungwe what a silly question. By theway It’s not only people that like free things. All forms of life do
No end to dead end. BOND means” PRISON”.
GRZ economic collapse vortex ??