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The Economic Association of Zambia president Dr. Lubinda Habazoka says the proposed 24 hours economy enshrined in the 2021/ 2026 PF Manifesto is very important and it will create jobs for Zambians.
Speaking when he featured on the PF Interactive Forum in Lusaka, Dr. Habaazoka said national development is what the country need for it to survive.
Dr. Habaazoka said running a 24 hours economy is what is required to stir economic growth.
He said in a country where the resources are scarce, introducing shifts among workers is a good idea saying this will help the country continue making wealth round the clock.
He said restricting working hours to a particular time is tantamount to limiting the economic activities in the country.
The Economic Association of Zambia (EAZ) has commended the government for its continued engagements with the International Monetary Fund (IMF) regarding the country’s responsibilities.
last week, the government concluded discussions with the (IMF) in relation to Zambia’s request at the end of last year for IMF support under an Extended Credit Facility (ECF).
This follows a virtual meeting which was held from 11th February to 3rd March this year led by the Minister of Finance Dr Bwalya Ng’andu with the IMF delegation, led by David Robinson.
And EAZ president Lubinda Haabazoka hoped that outcome of the engagements will see to it that certain challenges such the uncertainty in fuel prices are alleviated.
2021-02-16 11:56:13 GMT2021-02-16 19:56:13(Beijing Time) Xinhua English
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LUSAKA, Feb. 16 (Xinhua) Developing countries should emulate how China has managed to boost its production capacity which has boosted economic development, an expert said on Tuesday.
Lubinda Haabazoka, president of the Economic Association of Zambia (EAZ), said China has made it possible for developing countries to produce for themselves because the Asian nation has been able to produce cheap production machinery. Our engineers should be busy copying such machinery in Zambia, he said in a write-up on the performance of the country s economy.
According to him, in order for the economy to pick up, citizens have a duty to get involved in the production of various goods and services and not to leave everything to the government.
This analogy is interesting!!! ???
So, Zambia sold Mopani for $20m and $155 annual payments between 2003 and 2007, and today Zambia has bought back the same company for $1 and with that assumed a debt burden of $1.5 billion owed by the company to various lenders, suppliers and so on, this is merely months after the corporate entity declared the mine being uneconomic to run.
My one question is ‘Whose brain was used to think this transaction through?’
Painful as certain things are, the best thing to have done was to let the sleeping dogs lie..
They would have closed the mine, paid off employees and incentivised the spin-off other industries. And the country would not have added to its existing debt burden.