COPPERBELT IS IN ECONOMIC CRISIS
THE termination of employment contracts of over 400 employees by Master Mine Services (MMS) due to non-functionality of Konkola Copper Mines (KCM) is a clear indication that Copperbelt is in an economic crisis, Advocates For National Development and Democracy (ANDD) has said.
ANDD Executive Director Samuel Banda says UPND government is failing the people of the Copperbelt and Zambia as a whole through procrastination to resuscitate the mining giant.
Mr Banda said the continued delay to resuscitate KCM is impacting the country's domestic economic activities negatively.
"The termination of employment contracts for over 400 employees by Master Mine Services due to the non-functionality of KCM is a clear indication that Copperbelt is in an economic crisis. This calls for urgent attention by the government. We want to indicate that the UPND government is failing the people of the Copperbelt by failing to resuscitate KCM. What is sad is that the investor Vedanta Resources is ready to resuscitate the mine through the injection of over US$1 billion into KCM," he said.
"However, we are shocked that government has continued to delay the finalization of KCM - Vedanta Resources transition process. This continued delay has impacted negatively the Copperbelt economy. People are now loosing jobs, already the economy is bad, high cost of living and in short, Zambians are suffering."
Mr Banda urged the UPND government to have a sense of urgency when dealing with critical matters such as the KCM - Vedanta deal.
And A Kitwe based clergyman Charles Chilenshya has charged that Chingola and Chililabombwe Districts are destined for economic recession if the current economic challenges are not addressed.
Pastor Chilenshya of Christ my Life Ministries says the continued delay to unlock KCM is causing miseries for the people of the two districts.