Roan Constituency PF Member of Parliament Chishimba Kambwili has accused the MMD government of using the budget as a campaign strategy ahead of the 2011 general elections.
Mr Kambwili who has described the budget as unpractical has questioned where government will source the over 80 percent of the budget requirement when the windfall taxes on mining have been scraped off.
He has further challenged the government to re-introduce the windfall taxes on mining adding that is meant to deceive Zambians.
Finance and National Planning Minister Situmbeko Musokotwane on Friday announced the over K 20 trillion of 2011 National Budget 82.7 percent of it will be financed domestically while the remaining 17.3 percent will come from external resources.
[ QFM ]
Kambwili!!! anyway you are a role model in zambia to zambians.you dont even understand the same budget you are commenting about.
Zambia forecasts to earn USD 4 billion in taxation from mining companies next year
Zambia next year forecasts to earn USD 4 billion in taxation from mining companies operating in the Southern African nation as it seeks to increase copper output to 1,000,000 tonnes per annum.
Dr Situmbeko Musokotwane finance minister of Zambia said that the government was projecting to realize ZMK 1, 858.4 billion from the sector next year as the sector continues to expand.
Addressing lawmakers during the presentation of the 2011 budget in Lusaka on October 8, Dr Musokotwane the country envisions realizing ZMK 404.7 billion in mineral royalty taxes and an additional ZMK 555 billion in mining tax arrears it is owed by mining companies for their operations.
According to the ZMK 20,537.4 billion budget dubbed, a people’s budget from a people’s government, Dr Musokotwane said that copper output in 2010 will exceed 720,000 tonnes this year a level of production that was last seen in 1973.
He said that this places us within reach of our medium-term target of 1,000,000 tonnes per annum. The mining and construction sectors are expected to support growth in 2011 with the coming on stream of production from new copper projects that include Vedanta Resources Plc’s Konkola Deep Mine Project at its Konkola Copper Mine unit in Zambia.
Additionally, growth would ne enhanced by Albidon Jinchuan run Munali Nickel Mine in Mazabuka in southern Zambia which resumed production of the metal in March this year.
Dr Musokotwane said that by end September this year, Zambia’s gross international reserves had risen by USD 198 million to USD 2,121.8 million on account of donor support, net proceedings from the sale of the country’s fixed phone provider Zambia Telecommunications Company and…
Zambia, in its effort to grow further seeks to diversify its economy from traditional mining and increase revenue for the country.
He said that our future prosperity depends less on our copper but more on our wildlife electricity and beef and with firm resolve and sustained investment in diversification, Zambia can feed and power Southern and Eastern Africa.
Oh you are still around Mr Kambwili. Let’s hear Kambwilinomics, give us a dose of your budget as PF Minister of Finance, honourable. Manifestos are campaign promises ba honourable, and parties implement them as development projects through their government budgets. Surely that is not rocket science, Kambwili?
KAMBWILI EVERY GOVERNMENT IN THE WORLD WHEN THEY ARE FACING AN ELECTION THE PRESENT A BUDGET WHICH IS PEOPLE DRIVEN BECAUSE IT IS THE PEOPLE WHO WILL BE VOTING.YOU AS A MAIN OPPOSITION TO GOVERNMENT ARE SUPPOSED TO COME UP WITH AN ALTERNATIVE BUDGET /IDEAS TO THE ONE GRZ HAS TABLED.HOWEVER BWANA KAMBWILI YOUR WHOLE ENTIRE PF PARTY HAS NO CAPACITY OR WILL TO ARTICULATE SENSIBLE POLICIES APART FROM INSULTS AND LIES THIS IS MAINLY DUE TO YOUR YOUR DANGEROUSLY LOW LEVEL OF EDUCATION AMONG YOUR LEADERS AND LACK OF FORESIGHT.THE ONLY THING YOU SEE IS YOUR SATANA BEEN PRESIDENT AND PEOPLE LIKE YOU GIVEN MINISTERIAL POSITIONS,THAT WILL BE THE BEGINNING OF THE END OF ZAMBIA FOREVER AND EVER!
just like your president,whatever comes from that mouth smells like gas from a skunk ass.
just like your president,whatever comes from that mouth smells like gas from a skunk asss
Ofcourse it is a campaign tool.Who would not use it as a tool?typical PF ignorance.
i am not an accountant, but i thought a budget has income and expenditure statements
# 2 Mwata Do not mislead pipo, our national budget is approximately US $4 billion and is not equivalent to taxes we are going to earn from the mines. It is turnover (sales) from copper that is going to reach US $4 billion. Check your facts! Your first paragraph and the third do not tie up, what is in the third paragraph is the estimated tax revenue from the mining industry in kwacha and cannot be equivalent to US $4 billion as you put it in the first paragraph.
PF/UPND Pact is worried because the they realise MMD means business.They have found the budget very difficult to criticise. If you can’t beat them join them.Simple logic. Emulate Mr Mulanda who has seen that PF or UPND are going no where.He described PF as having a bad leadership.VIVA MMD…….