Zambia Development Agency (ZDA) Director Research, Planning and Policy Muhabi Lungu says the process to sell off some ZAMTEL shares is moving in the right direction.
Mr. Lungu said 8 companies that have been short listed have reached an advanced stage and are now doing due diligence and collecting data and making proposals.
He said every thing is going on steady adding that on 23 December the initial bid will be done at ZDA head quarters publicly.
He said that the sell of ZAMTEL will not be done privately because ZDA was keen to control the system to the satisfaction of the general public.
Mr. Lungu said his organization is doing everything possible to ensure the system is controlled such as the value of properties.
He said several committees have been set up to look at the welfare of workers and those pending retirement they too have set up committees saying no one will be left out.
Mr. Lungu said Zambia has learnt how to go about privatization since it’s initiation in 1991
Mr. Lungu was speaking to ZANIS in interview in Lusaka today adding that there will be no mistake in the sell of ZAMTEL because so far all the technicalities are in place.