GOV’T TO AMEND 2024 BUDGET

Dr Musokotwane also explained that the drag on the economy in the past few years, which also reflected itself on the exchange rate, high cost of living and poverty was due to the absence normal production at Konkola Copper Mines and Mopani.

He said non-production by the two mining giants made the economy act like a lame person.

The minister said the two mining giants were now very close to resuming normal operations, which would revive lives on the Copperbelt and the rest of the country.

“On top of that, the expansions taking place at FQM, Lumwana and the anticipated new mines will in a few years put Zambia on a different scale of development. Madam, other sectors of the economy are poised for greater heights. Tourism is doing great, so are the telecommunications, manufacturing, and construction sector.

Madam Speaker, by the time we reach 2026, the citizens of this country will say ‘well done’ to this UPND administration because the additional positive changes I am describing will be so evident,” Dr Musokotwane said.

He said the UPND administration had its eyes fixed on getting even stronger growth in the coming years as the key strategy for fighting poverty.

Dr Musokotwane explained that the shock to the exchange rate was largely attributed to problems in the mining sector.

“This has been a temporal problem which this government has resolved. Going forward, the people of Zambia should feel comfortable that the future is bright. On account of the mining sector alone, without considering other sectors, concrete steps will soon be visible as production towards the three million tons target takes shape,” he said

Dr Musokotwane said KCM would soon start operations.