By Mtowe Chipata
Lately, we have started experiencing some economic reversals which if remain unchecked, will lead Zambia into Zimbabwe-like situation. We know that the Pf government is in a hurry to register a point to Zambians especially that the much-promised first financial phase 90 days has elapsed without anything to write-home-about. As such they would come up with all sorts of statutory instruments and laws without any consultation from anyone including the Zambians who are the major stakeholders.
In order to show that they are really for the poor, the government just came up with the national minimum wage law without even asking the people who are suppose to execute it employers.
Mr.Shamenda pompously told the Zambians on ZNBC TV that the government doesn’t consult anyone on such matters.
There were some ‘ululations’ among few employees and cadres, but little did they know that the law would bring instability in the labour market. There were riots, demonstrations, killings, resentments, disagreements and labour separations.
This is when they realized that they should have consulted other experts and stakeholders in this situation. The wages being paid don’t come from the government, but it is the hard earned cash from the employers. Remember some employers are government workers who are also poorly paid. Shamenda never differentiated the profits and income bands among these employers; instead he went on to do his own things because he thought that was the best self-centred decision of all. The government went further in more economic blunders like implementing the wasteful REBASING OF THE KWACHA. They couldn’t consult anyone except the Bank Of Zambia officials who instead of viewing the actual effects of rebasing, but saw the ultimate allowances they would accrue and pocket from this project. So, they jubilated as this policy would improve the economies in their Pocket Real and Level headed economists like Professor Seshamann of UNZA, Ngandu Magande, Dr.Habazoka of CBU,HH etc advised the government against the policy but then, they couldn’t listen. Instead they only went to their newly acquired cadre, Chibamba Kanyama who offloaded ‘sweets’ and ‘roses’ about rebasing, hence promoted to be director at ZNBC. Again the overnight banning of use of foreign currency, like Dollars in transaction, was done haphazardly to show that the PF officials are working. Even though the move seemed to have worked well in July by narrowly appreciating kwacha, but today we seen that the kwacha is back to its lowest position and in fact the worst is expected as we rebase. Generally, since Mr.Sata came to power, the economy of Zambia has been going down and quite fast.
• The kwacha which was left at K4820/1$ in 2011 is now at K5280/1$. • On credit rating we have slumped from B+ •
We have dropped on World Bank ease of doing business by 10 points of which this has shockingly not shocked the Commerce minister, Bob Sichinga.
• The food prices like mealie meal, bread, Rice etc have been rising despite the interventions by the state officials
• The purchase of maize from the farmers has been very slow while polished with all sorts of lies from the Vice President, Gay Scot • The disappointing drop of the price of cotton from over K3000/kg last year when MMD was ruling to about K1000/kg this marketing season with PF in power.
• The Price of Maize has not even increased despite the increase in the cost of maize production • Transport fares have gone up
• Real inflation rates have been going up • The fake drop in the interest rates…I will show you actual rates for each bank next time.Let me compile the data.
The PF officials must realize that there are a lot Zambians with vast knowledge and experience in running the economy of Zambia. It is clear that PF just comprises economic cadres who are only there to mislead the president by praising and advising him wrongly.
Let Mr.Sata put his pride down and stop consulting Kabimba who doesn’t even know what MFEZ is, but go to personnel which will give him brilliant and genuine advice. If he can’t go and see some of our Economic consultants like Hakainde Hichilema or Prof.Seshamann, he can still move on to see Mr.Magande,Dr.Msokotwane etc. Stop consulting GBM or Fred M’membe or Kambwili on economic or political matters. These are very greedy human beings who are not there to serve Zambians but themselves.
We know PF government has a lot of mediocre officials who can’t see beyond their noses and even those like Bob Sichinga whom we thought they will inspire economic sanity in the government are proving to be serious liabilities to the majority Zambians.
I tell you the truth, Zambia will be in economic shambles very soon especially when Rebasing starts.
Many investors have taken a ‘wait and see’ attitude and including me the writer, are changing the Kwacha into Dollars. We are not sure how Kwacha will behave in Prorebasing era, and so am converting my few Kwachas into Dollars so that should things go bad, my cash is safe. “Mr.Sata Chilufya Michael was the first Catholic President to deport a Catholic Priest from Zambia.” Love you Zambians