SUPPORT BUDGET PREPS

THE 2021 National Budget preparation process is an enormous and vital national assignment that requires the input of all interest groups and general citizenry.

Obviously, the blueprint will only have a national appeal if all partners participate adequately in this important national task.

Year in year out, Zambia has experienced hue and cry each time the National Budget is due for approval in Parliament, yet sufficient time and opportunity is given to the citizens.

Against such a backdrop, all citizens and in particular private sector players must fully participate in the 2021 National Budget consultative process that will proceed up to the end of July this year.

The Ministry of Finance has announced the commencement of the process and will further avail the schedule of the consultative meetings which will take place in all parts of the country.

Alongside the National Budget, preparations for the 2021-2023 Medium Term Expenditure Framework will also be undertaken.

The task this time around will be more complex given that it will be done alongside the current process of revising the 2020 National Budget which has been hit by the effects of Covid-19.

In fact, the 2021 will need shock absorbers because Covid-19 appears to be a problem that will stretch into the next fiscal year as the figures have taken a consistent upward trend, especially in the United States of America, the United Kingdom and in some African countries.

This will present a challenge in as far as international trade and collaborative efforts with cooperating partners are concerned.

Therefore, the private sector and Government must craft a sustainable stimulus package, which will be able to take care of Covid-19 spin-offs.

One of the most affected sectors of the economy is the tourism industry, which cannot thrive in the light of travel restrictions in many countries across the globe.

The drastic reduction in tourism inflows resulted in the closure of many lodges and hotels while national parks, waterfalls and other attractive spots also have recorded a steep fall in visitations.

Even under the new normal, international visitors will elect to remain safe in their countries, fearing to contract the pandemic and the frustrations of having to undergo rigorous checks across borders.

Other than seeking a stimulus package, players in the tourism sector must employ innovative measures such as promoting domestic tourism and working out concessional rates for international visitors to shore- up inflows.

Similarly, the manufacturing sector must diversify and establish a niche fertile enough to buy their products or brands.

Other critical sectors of the economy such as mining, agriculture, construction, energy must follow suite and adopt more innovation approaches in the face of a highly challenging market.

As for the government, it will have to come up with a user-friendly tax regime across sectors to stimulate growth and encourage more investment.

However, the government will need to strike a balance between deriving sufficient taxes on one hand and lessening the tax burden on the private sector and the workers on the other.

Therefore, the Zambia Association of Manufacturers, Zambia Chamber of Commerce and Industry, Zambia Chamber of Mines, sector players in the tourism industry, Zambia National Farmers Union and other bodies must fully participate in the budget consultative process.

The general citizenry too must take keen interest. No one should be left behind!