Launch of Public Private Development Forum hailed
The launch of Public Private Development Forum (PPDF) will help turning around the country’s economic, Private Sector Development Association (PSDA) Chairman Yusuf Dodia has said.
Mr Dodia says Zambian businesses should be the bedrock of the country’s economy.
He says currently over 50 percent of the country’s national budget is being funded by 3rd party and they influence how the economy should be run.
Mr Dodia says having a strong domestic private sector, will help to finance the national budget through domestic revenue.
Mr Dodia has since appealed to President Hakainde Hichilema to see to it that the PPDF does not die a natural death but come to fruition.
And ZANIS reports that , Minister of Commerce, Trade and Industry, Chipoka Mulenga says the creation of the Public-Private Dialogue Forum for Private Sector and Economic Development will provide an enabling environment for the private sector to thrive.
Speaking during a panel discussion at the launch of the platform, Mr Mulenga said the forum will enable the private sector to compliment government efforts of creating employment for Zambians.
He observed that the current Government was ushered into office under the premise of job creation for Zambians.
The Minister said in the past, there was no existing commitment toward private sector development.
Mr Mulenga disclosed that his ministry has been having meetings with different players in various sectors to address their concerns.
He stated that Government has formulated legislation based on the needs of the private sector because they have been identified as partners in development.
“Right now as a Government, particularly the Ministry of Commerce, Trade and Industry, we have been holding meetings with various stakeholders in our economic agenda of improving things and making it better in the manufacturing sector and mining sector. It goes with policy legislation and a few other legislation are being forwarded to Parliament based on the engagements, we have had with the public sector,” he said.
Speaking during the same panel discussion, Acting Secretary to Treasury, Mukuli Chikuba said Government is undertaking various reforms to make the environment more favorable for the private sector.
Mr Chikuba said the reforms include both legal and fiscal reforms to address issues pertaining to venture capital.
He further said Government wants to stabilize the macroeconomic environment to address the cost of borrowing urging the private sector to take advantage of the available opportunities in the different reform processes.
Meanwhile, International Finance Corporation (IFC) Senior Private Sector Specialist, Peter Nuamah disclosed that the institution will fund the forum for an initial period of eighteen months.
President Hakainde Hichilema today launched the Public Private Dialogue Forum for Private Sector and Economic Development. - ZANIS