Professionals advised to study development plan
GOVERNMENT has called on accountants, professionals and business experts in the country to acquaint themselves with the Seventh National Development Plan (SNDP).
And Zambia Institute of Chartered Accountants (ZiCA) president Jason Kazilima has charged that Zambia needs to reposition itself and move away from copper dependency.
Southern Province Minister Edify Hamukale said that accountants should heed to President Edgar Lungu’s call for the need to ensure the SNDP creates diversified and resilient economy.
Dr. Hamukale said, this is in order for the country to achieve socio-economic transformation driven, among others, by agriculture, tourism, manufacturing and mining.
This was contained in a speech read on his behalf by Southern Province Permanent Secretary Sibanze Simuchoba during the official opening of the on-going 2017 Annual Business Conference (ABC) at Avani Victoria Falls Resort Hotel in Livingstone.
Dr. Hamukale further commended the organizers of the ABC conference for choosing ‘Globalisation and Smart Zambia’ as the theme for this year.
“Your theme resonates well with our aspiration as a nation to continue to be a key in the world in all aspects of human endeavor and position Zambia as a competitive and first choice destination for investment,” he said.
He said, “Of course, most paramount is for us to attain our middle income goal in line with our Vision 2030.”
Speaking earlier, Zambia Institute of Chartered Accountants (ZiCA) president Jason Kazilimani charged that Zambia needed to reposition itself and move away from Copper dependency.
Mr. Kazilimani said that government must, therefore, expedite the diversification process from Copper to other sectors, adding that the mining sector according to the Bank of Zambia’s first quarterly report saw a reduction in Copper price.
“We are renowned for Copper production but being a wasting asset compounded by the price volatility on the world market, our dependence on Copper has impacted negatively on the country’s Balance of Payment position,” he said.
Mr. Kazilimani observed that just the other week, the Bank of Zambia monthly economic updates showed that the country’s trade deficit deteriorated to US$274 million in the second quarter, from US$146 million in the first quarter of 2017.
He said that imports expanded by 8.5% while exports contracted by 3% signifying the country’s dependency on imports of goods and services.
“In this highly globalized and integrated world economy Zambia needs to move away from mere Copper production to value addition in all key sectors of the economy,” he said.
The ZiCA president observed that Copper has undergone so much turbulence at the global market.
“As such the country must expedite the diversification programme as promulgated in the Seventh National Development Plan to boost production for the export market.