A local economist has observed that the Zambian economy will not recover quickly from the prevailing global economic meltdown because of the unstable and lower price of copper on international market.

Mr. Chibamba Kanyama said unless Zambia focuses on its internally generated recovery efforts such as local manufacturers, which can exploit the current Kwacha depreciation to compete against foreign imports.

Mr. Kanyama, who is also Zambian Breweries Corporate Affairs Director, told ZANIS in Lusaka today Zambian Breweries is one such company that has targeted the regional market, whose demand is still reasonably high.

He said the other avenues that could help the Zambian economy to recover would be depending on the performance of the motor industry that considerably consumes copper products, which is one of the major earners of foreign money for Zambia.

He predicted that the Zambian economy will recover after government has worked on its own economy with targets that are identified through increased investments which could attract Zambian consumers.

Mr. Kanyama however said companies such as general motors are under-going intensive restructuring programmes owing to challenges of bankruptcy.

He further explained that economic recovery may not be done in one year because the price of copper on the global market is still dampened by speculators believed to be from china.

He said the recovery of the Zambian economy cannot be compared to developed nations because the appearance of marginal economic recovery in countries such as the United States was only a signal that the current global recession will be contained in the near future.

Mr. Kanyama however said the reverse of a turn around takes several years to positively affect poor economies.

He pointed out that the seemingly glimmer of hope of recovery in the US is too minimal to translate into global economic recovery, adding that this is only seen in some price rises for certain stocks.

ZANIS/VP/KSH/ENDS

The private sector has urged government to consider consulting other stakeholders when implementing decisions concerning the economy of the nation.

Private Sector Development Association (PSDA) chairperson, Yusuf Dodia, has said the private sector could play a vital role in the economic growth of any country if allowed to give its views.

Mr. Dodia told ZANIS in an interview in Lusaka today that there was need for government to work closely with the private sector when implementing measures aimed at strengthening the economy.

Mr. Dodia, who was commenting on the recent directive by the Bank of Zambia (BoZ) to ban non-residents from borrowing kwacha from commercial banks, said there was need to consider involving other partners in ensuring that the economy was protected at all times.

He explained that BoZ was also supposed to include other stakeholders and have an in-depth analysis of the current economic situation in the country before effecting the move.

He noted that with the current global recession, the central bank should be working out modalities that would protect the economy and attract more investment in the country.

Mr. Dodia further explained that banning of non-residents from borrowing the local currency will negatively affect foreign investment in the country because many foreign investors will find it difficult to do business in Zambia.

The PSDA chairperson noted that for any economy to be stable, there must be a combination of both the foreign and local investment.

Mr. Dodia added that this is why the BoZ should have consulted both the local and foreign investors to come up with proper measures that would not only protect but enhance economic development in the country.

Last month, the central bank introduced the monetary policy measure of banning non-residents from borrowing the kwacha in a bid to strengthen and protect the local currency from further depreciation.

The Kwacha has in the recent months depreciated against major foreign currencies by over 60 per cent.

ZANIS/MM/KSH/ENDS.

Government through the Ministry of Tourism, Environment and Natural Resources has today launched the Lake Tanganyika Integrated Management project (LTIMP).

Speaking when she officially launched the project in Mpulungu today, Tourism, Environment and Natural Resources Minister Catherine Namugala, expressed concern that Lake Tanganyika and its associated ecosystem has in the recent years been undergoing pressure from over fishing, unsustainable agriculture practices and deforestation.

Ms. Namugala noted that such practices have led to loss of important flora and fauna due to habitat change adding that sedimentation has had a negative impact on the Lake bed due to siltation.

“Siltation has led to drastic reduction in fish breeding and production thereby exacerbating poverty,” she said.

She noted that the government of Zambia attaches great importance to the sustainable management and utilisation of natural resources going by the many international environmental agreements signed including the one on the sustainable management of Lake Tanganyika.

Ms. Namugala thanked the United Nations Development Programme ( UNDP ) country office and the Global Environmental Facility for funding and facilitating the implementation of the project on the Zambian side of Lake Tanganyika.

And Northern Province Minister Charles Shawa said the LTIMP is a very good programme that will further unity the four countries.

Mr. Shawa who commended President Rupiah Banda’s zeal to develop Northern province said Northern Province Administration will fully support the project.

He noted that President Banda has shown passion for Northern Province by sending seven Ministers at once to investigate and enhance economic ventures in the province.

“This how it should be. People should not listen to wet blankets who are just talk and curved at derailing government efforts to provide for the Zambians,” he said.

The LTIMP is aimed at realising effective and sustainable management of Lake Tanganyika and other natural resources within the basin of the world’s second deepest lake.

The launch of the project by the Zambian government comes two months after the Tanzanian government launched the similar project.

The end objective of the project is to contribute to sustainable conservation of the biodiversity of the lake basin as a trans-border natural resources among the four recipient countries.

The Zambian component of the Africa Development Fund and the Global Environmental Facility supported the Lake Tanganyika Integrated Management Programme focus on sedimentation control which is within the framework of priorities of the sub-region Strategic Action Programme

Earlier, UNDP Country Director, Viola Morgan said her office is pleased that the project will address the root causes of the Lake’s biodiversity environmental threats such as increased levels of sedimentation and siltation, fish depletion and water pollution.

Ms. Morgan said there is need however, for consistent collaboration among the four countries namely, Tanzania, Democratic Republic of Congo, Burundi and Zambia to attain a better collective result for the basin.

She noted that with already existing mechanisms, the four countries should be able to realise and enjoy the benefit of exchanging information, knowledge and best practices as well as promotion of integrated management that optimises mutual benefits among the countries.

The UNDP Country Director pointed out that successful implementation of such a multi-faceted initiative requires an effective mechanism or system for quality control through regular monitoring, periodical evaluation and regular audits.

And Lake Tanganyika Authority Director, Henry Mwima said the Authority is happy to be part of the LTIMP which he said will contribute towards the mandate of the authority.

Dr. Mwima noted that the LTIMP will further contribute to the process of putting in place an integrated and collaborative resources management programme.

He however reminded the project management and implementation team to make sure that they are familiar with the relevant provisions of the Convention on Sustainable Management of Lake Tanganyika which the four countries ratified and entered into force in 2005.

Meanwhile, Regional Coordinator for UNDP/Global Environmental Facility-GEF Project on Lake Tanganyika, Laurent Nthahunga commended the four countries especially Zambia for setting up a strategic action programme and a convention for the sustainable management of Lake Tanganyika.

Professor Nthahunga noted that environmental protection constitutes a major concern at global level saying environmental degradation has serious obstacles to the realisation of the Millennium Development Goals and the future of the earth to which the four countries are committed.

He assured that UNDP/GEF wants to accelerate the inception process of the Lake Tanganyika Regional Integrated Management project to haste the materialisation of Lake Tanganyika Convention.

Finance Minister Situimbeko Musokotwane is leading a team of five other Ministers that include Tourism Minister Catherine Namugala, Lands Minister Peter Daka, Commerce Minister Felix Mutati, Local Government and Housing Minister Ben Tetamashimba and Energy Deputy Minister Allan Mbewe on tour of the Northern Tourism circuit with special attention on the Kasaba Bay Resort project.

ENDS/CBM/ZANIS/MM.

Kalulushi Municipal council has reduced rates and levies on all mine properties to enable Mining Companies to honour their payments.

The Council’s Public relations officer Silvia Chileshe said the council decided to reduced rate Levies on all mine properties which was the only reliable revenue for the district.

Mrs Chileshe said this decision was arrived at after the Council expressed concern that the mines could close any time as, due to the global economic melt down.

She said the idea came after the full council meeting last week as most mining frames were pulling out and the council felt the only way was to reduce rate levies and try to work on other properties to sustain it.

She said the council was now looking at other revenue such as industrial , commercial and residential where it could get revenue apart from the mines.

Mrs Chileshe said the reduced rate levies for mining properties where from 0.02 to 0.015 and the rates for industrial properties 0.010 to 0.01 Kwacha.

She told ZANIS in an interview in Kalulushi today that the rates were reduced so that people in the residential areas could manage to pay hence reduced from 0.006 to 0.004 Kwacha.

Mrs Chileshe said the tribunal would sit any time this year to determine whether the rates the council reduced were pleasant and also get people’s objectives.

She however, said the council also allocated 636 plots in chibuluma and south Kalengwa area to members of the public .

She said the council decided to allocate plots along the south kalengwa after been removed from the north kalengwa area which they got illegally.

ZANIS/EZ/ENDS/MM