More than 500 miners will lose jobs immediately if president Edgar Lungu is re-elected.
The Watchdog has been informed that First Quantum mine in kansenshi has agreed to wait until the first week after elections for it terminate almost all contracts of suppliers and service providers.
One of the contractors that will be terminated immediately just after the elections if Lungu is declared winner is for Chantente Mining Service, according to an agreement struck between Kasanshi and State house. Chantente employs more than 500 workers who will lose jobs. A source told the Watchdog that president Lungu ‘convinced’ Quantum that they have to wait until elections because sending miners on the streets right now would make him lose elections.
According to mine industry sources, most mines are just waiting for the elections to pass before they reduce their work force due the continued low copper price where they sell it.
It is expected that the Zambian economy will deteriorate beyond recovery if the PF is retained in power. For example, massive load shedding will be restored as the government is currently importing power at a huge cost from Malaysia just to cheat voters during this election period.
The Kwacha will fall heavily against other currencies as the Bank of Zambia will stop pumping dollars to keep the exchange rate at the currency artificial, unsustainable rate. Bank of Zambia sources say the true value of the Kwacha right now is K20 per US dollar, because Zambia produces nothing to export apart from copper which is currently cheap.
The prices of electricity will go up as the PF has already approved the increment in tariffs but just waiting for elections to pass.
Subsidies given to farmers will be removed and government will also stop subsiding fuel as the IMF comes in.
There will be a wage and employment freeze until 6 months before the other elections in 2021.
Meantime, Lungu will not really care as he would have been elected as that is what is important to him, in addition to dancing and drinking alcohol.